Sunday, December 10, 2023

Criminal cases regarding crypto rising in Russia.

In 2021, there were nearly a thousand criminal cases pertaining to cryptocurrency, in the country. Lawsuits that are to do with the crypto world, such as mining coin as well as exchanging assets that are digital, have seen an increase in Russia. Just last year, there were a total of around 1531 lawsuits. This figure comes from research that was done by RTM Group a company dedicated to cybersecurity.

A lot of these vases, at least 954 of these, were initiated under articles belonging to the criminal code in place in the country. Another 365 of these cases were civil cases. Ten of these cases led to bankruptcy. And another 71 were administrative cases.

Lawsuits and Cryptocurrency in Russia

It has been seen that cryptocurrency related criminal cases are often to do with drug trafficking. People who were behind these deals wanted their payments to be anonymous. At least 738 such cases were filed just last year.

There are other proceedings that are criminal as well. These include laundering funds in an illicit manner, as well as using digital coins.

There are also bankruptcy cases pertaining to the ownership of cryptocurrency. Research showed that these figures had nearly doubled last year. The Judiciary of the country has referred to assets of cryptocurrency as property. Different sides have to provide documents that show that they own the cryptocurrency.

RTM, in order to prepare their report, analyzed the acts of Court that were published. They also looked at arbitration courts as well as information that was obtained by officially corresponding with the different departments.

Cryptured Team
Cryptured Team
The writers team at is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.

Most Popular