Russia is set to create new laws that will allow the Government Authority To Seize Bitcoins. According to local news tabloid RBC, Russia's interior ministry has begun work on the new law that could be passed into law by 2021.
According to the report, Russian authorities want greater control over digital assets within the country with the crypto revolution the major reason for this move. Nikita Kuliov a major chief in the Russian parliament was quoted as saying "Among the options under consideration is the creation of a government cryptocurrency wallet for transferring funds."
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This according to crypto analysts in the country means that the government is weighing up different ways to impose restrictions on cryptocurrencies. Russia has been slow in implementing the highly anticipated laws regarding cryptocurrency operations in the country.
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