Governments Address Seized Cryptocurrency Amid Global Policy Shifts

According to ShibDaily, governments are increasingly focusing on managing seized cryptocurrency assets, with Russia and the United States taking significant steps in this area. Russia is preparing to convert confiscated Bitcoin into state revenue, following a high-profile criminal case involving Marat Tambiev, a former investigator convicted of accepting bribes from hackers. Dmitry Aristov, head of Russia's Federal Bailiff Service, described Bitcoin as a "problematic asset" due to the challenges in liquidating it. He noted that the service is collaborating with relevant authorities to develop a methodology for handling such financial instruments. The Bitcoin in question, valued at over 1 billion rubles, was ordered by the court to be handed over to the state, although a clear process for its sale is still lacking. Aristov highlighted the need for new legislation to regulate cryptocurrency circulation in Russia. Additionally, a bill aimed at legally recognizing crypto as property to simplify seizures has reportedly been submitted to the Russian government. These developments in Moscow highlight the practical difficulties governments face in managing forfeited digital assets and the evolving legal status of cryptocurrency. Meanwhile, the United States government is conducting a comprehensive audit of its federally held Bitcoin, expected to conclude this Saturday. This marks the first full accounting of Bitcoin holdings across various agencies, following directives related to establishing a Strategic Bitcoin Reserve. Unlike Russia's immediate liquidation plans, the U.S. reserve is intended as a long-term holding, not for active selling. The U.S. government's Bitcoin holdings are substantial, estimated at around 198,000 BTC, worth approximately $16 billion, according to Arkham Intelligence. Although the government has previously sold some seized crypto, it retains a significant amount acquired through forfeitures over the years. The audit results could provide market insights, as suggested by David Bailey, CEO of BTC Inc., who noted that the findings might clarify recent price movements. The actions taken by Russia and the U.S. reflect a growing trend among governments worldwide to engage with cryptocurrency, both as seized assets and potential strategic reserves. Their decisions are influential in shaping the evolving digital economy.