Russian Court Overturns Cryptocurrency Media Ban, Report Says

June 5, 2018 1:37 pm Published by

Following an April Russian Supreme Court order to review the case, a city court in St. Petersburg, Russia has overturned a decision made by a district court in 2016 effectively blocking cryptocurrency media site to be accessed in the country, CoinDesk reported Tuesday.

“The St. Petersburg City Court quashed the decision of the district court to recognize the information posted on the website.” – Tass report of city court ruling

The website’s owner told Tass the St. Petersburg city prosecutor’s statements disclosed approximately 100 cryptocurrency media sites had been blocked following the ruling, CoinDesk reported.

In July 2016, the Vyborg district court of St. Petersburg ruled to block without permitting the site’s owners to be granted an initial trial. The court ruling found cryptocurrencies are “a means of virtual payment and accumulation,” and, thus, providing related information is illegal as it could undermine the country’s fiat currency, the report said.

Following the ban, the St. Petersburg city court also declined the site owners’ appeal to reconsider the case, the report said, until the supreme court overturned the decision.

The city court ruling comes as Russia is in the process of drawing up and passing a regulatory framework for the cryptocurrency industry – expected to be ready by this summer, as previously demanded by President Vladimir Putin., Jack Durschlag

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