Copy link
Increase text size
Decrease text size
Link copied

Belarus investigative authority wants right to seize cryptocurrency from criminals

Image by adrian, acediscovery from Flickr

Tue, 10 Mar 2020, 04:27 am UTC

Belarus wants to have the authority to confiscate cryptocurrency.

Ivan Noskevich, head of the Investigative Committee, said during an interview with a state-owned TV channel CTV that the republic has no legal regulation that allows the authority to seize cryptocurrency through enforcement and they are working to have one, Cointelegraph reported.

Noskevich admitted that they have been encountering problems while investigating criminal cases involving cryptocurrencies. He realizes that the authority needs to have the right to confiscate crypto from those who used it in crimes.

“We’ve encountered such cases before, but there was no legal regulation of the mechanism for seizing cryptocurrency. I hope that the legislators will listen to the opinion of the Investigative Committee, and such amendments will be introduced into the criminal procedure legislation,” said Noskevich.

Belarus President Alexander Lukashenko gave cryptocurrency a green light back in 2017. However, the country in Eastern Europe is not very active when it comes to crypto-related developments.

In June 2019, Belarus’ general prosecutor raised concerns over the role of crypto in tax evasion. Also, the state’s largest bank Belarusbank was reportedly considering setting up a cryptocurrency exchange.

While Belarus is still fighting to have the authority to confiscate crypto, many countries have been doing it already and they put the cryptocurrencies they seized on auction. In February, the United States Marshals Service (USMS), a federal law agency under the U.S. Department of Justice, auctioned over 4,000 confiscated bitcoins which was worth $37 million. The Belgian Federal government is also planning to auction $125 worth of bitcoin on March 24.

In related news, Protocol Labs General Council member Marvin Ammori said that taxing crypto is very difficult when asked if blockchain is ready for mass adoption. He even considered it a “nightmare.”

“Doing your taxes for crypto is the worst nightmare. The tax treatment is very complicated,” he said.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $7,267.28 (-0.24%)
  • Ethereum (ETH) $169.74 (-0.66%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $263.61 (-2.33%)
  • Bitcoin SV (BSV) $215.78 (+3.53%)
  • Bitcoin (BTC) $7,267.28 (-0.24%)
Feb 21, 2020 (Friday)
12:01
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
12:00
Brazil to launch new payment system in response to cryptocurrencies
11:59
Digital currency exchange Coinbase Pro lists Kyber Network token
11:57
Norwegian Air to soon start accepting crypto payments
10:21
Swedish central bank begins CBDC pilot with Accenture
09:51
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
14:16
Telecom companies complete cross-carrier mobile payments using blockchain
11:53
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
11:00
South Korean ICO project discontinued, to return $7.5M to token holders
10:36
Samsung maintains crypto support in soon-to-launch Galaxy S20
09:41
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
09:15
Coinbase becomes first crypto company to receive Visa principal membership
08:59
Dubai Economy and six banks launch KYC Blockchain Consortium
08:26
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
07:12
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
06:13
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
05:02
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
04:56
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
04:35
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
12:46
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft