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Assets
Russian bailiffs will soon be able to seize crypto assets such as digital tokens and financial instruments issued on distributed ledger technology (DLT) as part of debtor’s confiscation. The move is reportedly meant to facilitate the enforcement of court decisions. According to a source familiar with the matter, the Federal Bailiff Service (FSSP) of Russia is planning to draft rules governing the seizure of crypto assets. The move is part of the process of recognizing digital tokens as property that can be confiscated if a court so orders. As part of the overall process, the FSSP has asked the country’s Ministry of Justice to issue an official decree, which will grant bailiffs the capability to seize crypto funds.
