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The government has submitted for consideration to parliamentary committees a draft law amending the law “On the Administration of Seized and Confiscated Assets.” The initiative aims to improve the legal framework for the management of these assets and accelerate the procedures for their administration and sale.
The draft law expands the scope of application to include, in addition to assets seized and confiscated by the justice system, assets confiscated by local governments, mainly unauthorized constructions. This change increases the volume of assets administered by the state and requires clearer institutional coordination mechanisms.
In this context, the draft foresees the creation of a special fund for the administration of unauthorized constructions. The aim is to use them for developmental, social or institutional functions. From the point of view of public finances, this mechanism aims to avoid the depreciation of assets and maximize their economic value before or instead of sale.
A fundamental change relates to the role of the Sequestered and Confiscated Assets Administration Agency. The draft law gives the agency the authority to conduct its own sales procedures through public auction, in addition to leasing.
Currently, the involvement of several institutional links has extended deadlines and increased administrative costs. By centralizing the assessment, administration and transfer of revenues, the legislator aims to reduce procedural delays. In economic terms, accelerating the administration cycle reduces the costs of maintaining assets and limits the risk of their depreciation over time. However, efficiency will depend on the technical capacities of the agency, the transparency of auctions and financial control mechanisms. The draft includes cryptocurrencies for the first time in the category of movable assets that can be seized and confiscated. This change creates a legal basis for the administration of digital assets by state institutions.
The inclusion of cryptoassets reflects their increasing use in the economy and the need to address them in criminal and property proceedings. Their administration requires specific technical expertise and high security protocols, due to price volatility and cyber risks. The draft law does not detail whether specialized structures will be created for this purpose, which is expected to be part of the parliamentary debate.
According to the explanatory report, the draft law aims to increase the efficiency of asset use and contribute to the growth of public revenues, without creating additional costs for the state budget. This means that faster administration and more efficient sales are expected to generate higher net revenues. However, the assessment of this effect requires data on the current stock of assets, the average duration of administration and the rate of value recovery at auctions. In the absence of these indicators, the fiscal impact cannot be precisely determined.
The debate in the parliamentary committees is expected to focus on three main elements: the institutional capacities of the agency, control and audit mechanisms, and coordination with local governments for the administration of unauthorized construction. More broadly, the draft law aims to strengthen the management of public assets arising from criminal or administrative proceedings. If implemented in a transparent and efficient manner, the changes could improve fiscal discipline and increase the contribution of these assets to public finances, without increasing the tax burden.
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