Russia: Felons’ Bitcoin Sales Are Money Laundering

Crypto News
Crypto News

29 Jun 2023 6:00 AM

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.

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What did Russia's Supreme Court rule regarding Bitcoin-to-fiat trades by criminals?What was the case that led to this ruling?How did the lower court initially rule in this case?What evidence did prosecutors present to support the money laundering charges?What are the potential implications of this ruling for future crypto-related cases in Russia?

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