President Vladimir Putin has handed Russian courts new powers to seize cryptocurrencies during criminal investigations.

Putin signed a new law that will amend the country’s Criminal Code, and recognise cryptocurrencies as a form of intangible property, Russian newspaper Kommersant reported.

The law codifies existing protocols for seizing digital assets, Deputy Justice Minister Elena Ardabyeva told the newspaper. But instead of relying on legal precedent for Bitcoin, Ethereum, and the confiscation of various altcoins, these protocols are now enshrined in Russian law.

The law also…