Supreme Crt to hear appeal of blocked bitcoin website owner Mar 21 - Engineering & Hi-Tech - PRIME Business News Agency - All News Politics Economy Business Wire Financial Wire Oil Gas Chemical Industry Power Industry Metals Mining Pulp Paper Agro Commodities Transport Automobile Construction Real Estate Telecommunications Engineering Hi-Tech Consumer Goods Retail Calendar Our Features Interviews Opinions Press Releases

Supreme Crt to hear appeal of blocked bitcoin website owner Mar 21

MOSCOW, Mar 5 (PRIME) -- RussiaТs Supreme Court will consider on March 21 a cassation appeal on a lower courtТs decision to block website, which published news about the bitcoin and other cryptocurrencies, a high court spokesperson said on Monday.

The Vyborg District Court of St. Petersburg decided to block the resource in July 2016 on †prosecutorТs request. The websiteТs owner contested the move, but to no avail, and the decision came in force.

The lower court said that the bitcoin and other cryptocurrencies Уfuel growth of the shadow economy,Ф and Уboundless distribution of information about an electronic currencyФ is dangerous because cryptocurrencies are frequently used by arms and drugs dealers, and other criminals.

Russia does not treat the bitcoin or other cryptocurrencies as an official means of payment. The government, however, is working on the introduction of regulations in this industry.

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05.03.2018 10:33
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