CJ - Cryptocurrency Enthusiast
Less than a week after Industry and Trade Minister Denis Manturov declared that Russia would undoubtedly legalize cryptocurrency as a form of payment, the City Court of St. Petersburg issued a ruling that recognized crypto assets as legitimate.
Crypto as a Payment Method is Recognized by a Russian Court
Piron and Yevgeny Prigozhin were sentenced to nine and seven years in jail, respectively, by the City Court of St. Petersburg Pyotr, for extorting about $1 million in digital assets from another guy.
The Bitcoin in question was given over by the victim in an extortion case, and the court ruling recognized it as a kind of payment, according to Russian media. In 2018, the criminals threatened Shemet with criminal prosecution in order to extort money. They pretended to be law enforcement officers.
The couple, who were not security officers in fact, extorted 5 million rubles ($90,000 USD) and 55 million rubles ($1 million USD) in digital assets from Shemet after staging a bogus arrest.
Because Russia has yet to impose legal boundaries on digital assets, the first court judgement did not deem the to be crypto extortion. Following an appeal, the municipal court issued a fresh ruling that recognized cryptocurrency as a form of payment.
More and more countries are beginning to accept Bitcoin as a form of payment, as the technology it is built on seems reliable and withstands even harshest economic conditions. If you are looking to Buy Bitcoins or Buy Alt Coins, we recommend the best Bitcoin Broker – BCBitcoin.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.
2. **Continued Operation Outside the UK:**Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.
3. **Withdrawal of Assets:**For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.
4. **Conversion of Assets:**To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing firstname.lastname@example.org from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.
5. **Withdrawal Procedure:**To initiate a withdrawal, please email your request to email@example.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at firstname.lastname@example.org Kind Regards