[2018-05-08] Cryptocurrency Recognized as Valuable Property by Russian Court

[DeadCoin]

https://news.bitcoin.com/cryptocurrency-property-russian-court/

A Russian arbitration court of appeals has recognized cryptocurrency as a property with value in its ruling on Monday. This overturned a previous ruling by another court even though Russia currently has no legal framework for cryptocurrencies.

The Ninth Arbitration Court of Appeals ruled on Monday that a bankrupt person’s cryptocurrency must be included in the debtor’s bankruptcy estate, local media reported.

The case involves Russian citizen Ilya Tsarkov who filed bankruptcy in October last year. The court has ordered his cryptocurrencies to be transferred to the trustee, Alexei Leonov, who is expected to be handed the private key to the crypto wallet belonging to Tsarkov soon. According to Vedomosti, Tsarkov owns almost 0.2 bitcoin which is worth approximately US$1,885 at current market rates.

How do you take this?

[Jating]

It only means that Russian still up to this day contradicts and still at lost as to how they are going to support or regulate cryptocurrency. Well the overturn was a welcoming news but I wouldn't put too much emphasize on this.

The Russian government should really put a officially statement as to where they are regarding crypto. They looks like a bunch of kids since last year, offering different opposing statement that you don't know who to believed to.

This case is really a landmark for crypto enthusiast but it doesn't mean that the government will fully support this court's decision.