Russia: Felons’ Bitcoin Sales Are Money Laundering
Russia’s Supreme Court has ruled that criminals’ Bitcoin (BTC)-to-fiat trades can be considered money laundering. Find out more!...
- Russia's Supreme Court has ruled that Bitcoin-to-fiat trades by criminals can be considered money laundering.
- The ruling came in a case involving a man who sold narcotics for Bitcoin and converted it into fiat rubles.
- Initially, the lower court acquitted him of money laundering charges, but the High Court upheld the original verdict.
- The Supreme Court interpreted the relevant section of the Criminal Code to include all financial transactions involving proceeds of crime.
- Prosecutors presented evidence of the drug dealer using technological tools to hide the source of the money.
- This ruling is likely to set a legal precedent and make seizing and liquidating tokens easier in future crypto-related cases.
The sentiment of the article is negative, as it discusses criminal activities involving Bitcoin and the implications of the Supreme Court ruling.