As part of a criminal case initiated by the State Security Service (SSS) of Azerbaijan, a freeze has been placed on cryptocurrency involved in the crimes committed by an organized group.
According to the investigation materials, under Article 99-1 of the Criminal Code, special confiscation is a legal measure that allows the state to seize tools and assets used in committing a crime, as well as property obtained through criminal activity, without compensation.
Under Article 1.1 of the Law on Combating Legalization of Criminally Obtained Property and Financing of Terrorism, criminally obtained property refers to any funds, movable or immovable, tangible or intangible assets, including virtual assets, acquired directly or indirectly as a result of crimes defined in the Criminal Code.
The law also defines a virtual asset as a digital representation of value used for payment or investment purposes and existing within a virtual asset circulation system.
Accordingly, to ensure special confiscation in the criminal case against B.H.R. and others, a freeze has been placed on the cryptocurrency found to be the subject of the crime. The enforcement of this measure has been directed to international virtual asset service providers.
