Cryptocurrencies included in the article of the Criminal Code of the Russian Federation on money laundering As explained by the plenum of the Supreme Court of Russia on Tuesday, February 26, cashing out cryptocurrencies falls under the provisions of the article of the Criminal Code of the Russian Federation on money laundering, writes TASS.

Cryptocurrencies included in the article of the Criminal Code of the Russian Federation on money laundering

As the plenum of the Supreme Court of Russia explained on Tuesday, February 26, cashing out cryptocurrencies falls under the provisions of the article of the Criminal Code of the Russian Federation on money laundering, writes TASS.

The corresponding amendments were made to the decree of July 7, 2015 with clarifications of the norms of the legislation on judicial practice in cases of legalization of income (Articles 174 and 174.1 of the Criminal Code of the Russian Federation).

Russian Supreme Court Judge Alexander Chervotkin said that the Financial Action Task Force (FATF), which includes Russia, notes “there is an urgent need for all member states to take coordinated measures to prevent the use of virtual assets for criminal purposes ".

Chervotkin also stressed that the Russian judicial practice already knows examples of cases of the use of cryptocurrencies. “We have specific convictions, which established that criminal proceeds in cryptocurrency, including from the sale of narcotic drugs, in the future by making a number of financial transactions were converted into cash and put into circulation by withdrawing from bank accounts", - he added.

According to the resolution of the plenum, “the subject of the crimes provided for in Articles 174 and 174.1 of the Criminal Code of the Russian Federation, there may also be money converted from virtual assets (cryptocurrency) acquired as a result of a crime. ".

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