The Commission in the Parliament passed the second reading of the Penal Code. The proposal was submitted to MPs for approval. With the initial changes to the share of property seizure on the basis of judicial rulings, there are cryptovaluts, an industry that is currently not regulated by law in our country.
The proposal means money or other means of payment, paper of value, deposit, other economic resources sources in any form, playful or real estate, vulnerable or invulnerable, including virtual assets (money) in accordance with the law, says the Criminal Code, Article 122, paragraph 38.
Experts in financial investigations and online financial crime have raised doubts about how people with such assets will be identified.
Based on the practices of countries in the region, their identification will be made through some legal changes that must be adopted. The first one should be created the institution that controls them, in concrete cases the People’s Bank. Afterwards, subjects who exchange their cash should inform the People’s Bank of the identity of the person who has monetary value in crypto, while through the Law on property statements, everyone will be obliged to submit monetary values.
In case of a plea, the person is prosecuted. Financial Police and Financial Intelligence Directorate will also play an important role. The amendments to the Penal Code come parallel to the justice ministry’s request sent to the European Commission to assess the draft of the new Penal Code, which this institution requested even in the latest progress report for Northern Macedonia.