A Russian district courtroom has dismissed bitcoin theft as a criminal offense since cryptocurrency isn’t regulated in Russia and there’s no authorized standing for bitcoin. The accused had been discovered responsible, sentenced to jail, and ordered to return solely the fiat cash stolen — not cryptocurrencies.
St. Petersburg’s Petrogradsky District Court docket has introduced the decision in a theft case involving bitcoin filed in December, the joint press service of the judicial system of St. Petersburg introduced on Tuesday.
The 2 accused, Peter Piron and Yevgeny Prigozhin, disguised as officers of the Federal Safety Service of the Russian Federation (FSB) in 2018, compelled the plaintiff to switch money and cryptocurrencies to them. Beneath the specter of torture, the cryptocurrency proprietor transferred 5 million rubles and cryptocurrencies, together with 99.7035 bitcoins. The BTC was value greater than 48 million rubles ($680,640) primarily based on the alternate charge on June 3, 2018, the courtroom announcement particulars. At present, this quantity of BTC is value about $908,024. The opposite cryptocurrencies amounted to roughly 7 million rubles, bringing the whole loss suffered by the plaintiff to greater than 60 million rubles.
The sufferer sought the return of all properties stolen. The courtroom admitted that cryptocurrencies had been transferred to the accused beneath risk. Nonetheless, citing info from the central financial institution, the Financial institution of Russia, and the prison code, the courtroom concluded:
Cryptocurrency [theft] isn’t a criminal offense towards property. Because of the lack of authorized standing, it’s not attainable to acknowledge it as an object of civil regulation.
“This sort of digital cash doesn’t fall into any class and isn’t a acknowledged technique of cost within the territory of the Russian Federation. The legislator has assigned it to surrogates of funds,” the courtroom added.
Prigozhin was sentenced to eight years and Prion 10 years in a maximum-security jail. They’ve additionally been ordered to return the 5 million rubles, however the cryptocurrencies value 55 million rubles on the time of the theft had been excluded from the decision.
Russia nonetheless has no cryptocurrency regulation regardless that a invoice on digital monetary belongings was submitted to the State Duma again in March 2018. Just lately, a bill was proposed to outlaw cryptocurrencies with a jail time period, however a number of ministries do not support this invoice.
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