City court in Russia recognizes Bitcoin as a means of payment

In a Russian lawsuit in which 2 Russian citizens extorted more than 55 million rubles (approximately €890,000) in digital assets and 5 million rubles (approximately €81,000) in cash from a man, the court process led to a passive recognition of crypto as a means of payment .

Victim did not believe perpetrator’s story

According to RBC, a Russian business news portal, the St. Petersburg court has now recognized cryptocurrency as a means of payment. Typically, prosecutors first refer to court rulings while representing a client or the state. However, the Moscow government has yet to decide on the legal status of the top cryptocurrency Bitcoin (BTC).

One of the perpetrators, Pyotr Piron, introduced himself to the victim as an officer of the country’s Federal Security Service. He then threatened the victim by claiming that he would face legal problems if he did not pay him. He then demanded money in the form of cash and digital currencies.

However, the victim did not believe that Pyotr was actually a federal officer, so he decided not to pay anything and decided to go to the police. An investigation into the alleged illegal circulation of cryptocurrency is currently ongoing.

Not the first time that perpetrators are active

It now appears that the 2 perpetrators are not involved in such an action for the first time. For example, the duo successfully extorted a person in 2018 by threatening to torture them if they did not pay.

In this criminal process, the crypto that was involved was initially not taken into account. It was even said that it is not a means of payment on “the territory of the Russian Federation”, and therefore it was not a subject of civil rights and thus a potential “subject” of a crime.

Read Also:  Defending Champion Makes History, Reaches T20 World Cup 2024 Semis

After an appeal, the other court stated that the cryptocurrency can be considered as a means of payment. With this, the lawsuit returned to the original court. Without changing the prison sentences of the respondents, the city court issued a different verdict, adding the digital money.

Recent Articles

Related News

Leave A Reply

Please enter your comment!
Please enter your name here