In Russia Proposed to Create a Digital Cryptocurrency Prosecutor’s Office

Russia Proposes Digital Cryptocurrency Prosecutor's Office

The decision appeared as a consequence of poor developed system of investigations concerning digital crime: despite it is growing significantly, the number of criminal proceedings on cryptocurrency is still negligible. 

Experts noticed  that there are some difficulties in the process of assessing criminal acts, that is why the number of criminal cases is so small.  

The commission’s vice-chairman and a lawyer Ekaterina Ippolitova stated that the point concerns only the crime, in which cryptocurrency is used as a tool of money laundering or drug purchases. The majority of victims have to face the refusal to institute such proceedings because of the absence of legal regulation. 

Challenges in Investigating Cryptocurrency Crimes

The expert from the Institute for the Development of Internet Boris Edidin suggested to create specialized law enforcement bodies, investigating digital crime cases. It can be called as a «digital prosecutor’s office». 

All the participants spoke in favour of establishing «general playing field», in particular, to distinguish the terms «digital» or «virtual» assets, in accordance with the FATF approach. 

On the other hand, there is the lack of modern approaches to investigate cases related to cryptocurrencies. The majority of participants agreed with this proposal.