According to a criminal case initiated by the State Security Service of the Republic of Azerbaijan (SSS AR), cryptocurrency, which is the subject of a crime committed by an organized group, has been seized. As reported by Oxu.Az, this decision was made by the Sabail District Court of Baku.
The investigation materials note that, according to Article 99-1 of the Criminal Code (CC) of the Republic of Azerbaijan, special confiscation as a criminal-legal measure provides for the forced and gratuitous seizure in favor of the state of the instruments and means used in the commission of a crime, as well as property obtained by criminal means.
In accordance with Article 1.1 of the Law of the Republic of Azerbaijan “On Combating the Legalization of Criminally Obtained Funds or Other Property and the Financing of Terrorism”, the relevant property means any monetary funds, movable or immovable, tangible or intangible property, including virtual assets obtained directly or indirectly as a result of committing crimes provided for by the Criminal Code of the Republic of Azerbaijan.
According to the same law, a virtual asset is defined as a digital expression of value that exists in the virtual asset circulation system and acts as a means of exchange for payment or investment purposes.
In accordance with the above, within the framework of the criminal case initiated by the State Security Service against the arrested B.G.R. and other persons, in order to ensure special confiscation, a decision was made to seize the cryptocurrency belonging to them, identified as the subject of the crime. The decision was sent for execution to international virtual asset service providers.
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