The Supreme Court overturned the defendant’s acquittal of legalizing bitcoins. Therefore, converting bitcoins to rubles can be considered money laundering. In this respect informs Russian Legal and Forensic Information Agency (RAPSI).
The Supreme Court of Russia overturned the verdict on the acquittal of the defendant from the legalization of bitcoins. The highest authority did not agree with the view that the conversion of cryptocurrencies to rubles and their subsequent distribution among other people’s bank cards and accounts cannot in itself be considered laundering.
The case file stated that the accused had illegally stored drug precursors on a particularly large scale, and also engaged in the illegal production of mephedrone on a particularly large scale with the participation of an organized group. At the same time, money from buyers came in the form of a cryptocurrency, which was later converted into rubles.
Against the background of the vague definition of the legal status of cryptocurrency in Russia, even the courts recognize it as a means of payment, according to Andrey Tuzov, head of criminal law enforcement at the EU EPAM in St. In addition, it can be used to make financial transactions. Therefore, thanks to forensic applications, the understanding that cryptocurrency is property may soon be consolidated.
Earlier, Bloomberg cited data from blockchain company CCData. reportedThat Russians started buying cryptocurrency en masse on the backdrop of reports of the riot by private military company (PMC) Wagner, hence their trading volumes tripled.