Russian Court Orders Sberbank to Unblock Bank Account Of Bitcoin trader

A man who was facing allegations of Money Laundering and his bank account was blocked by the bank on the suspicion of Money Laundering. Now that Bitcoin trader got relief because all the allegations found wrong.

Pavel R, who is a Russian citizen and also he is a bitcoin trader. Recently this guy faced allegations of Money Laundering activities. In order to investigate this man, his account was blocked & funds were seized by the Sberbank. 

But now this guy provided all his documents and gives all details of his trading & banking transactions in all possible perspectives. The Russian Sverdlovsk regional court, a court in Russia’s fourth-largest city, Yekaterinburg said that this guy is not doing any illegal activities. And Sberbank ordered them to revoke their block & restriction on crypto traders for this guy. 

It seems a small victory because it is related to an individual person. But still it is a big victory because the Court justice department shows friendly nature with the crypto trader. It is worth noting here that Russian government is in favour of cryptocurrency. Even the prime minister of Russia claimed that they will bring better protection laws for crypto users. 

Sberbank is one of the largest bank of Russia, claiming that they will bring their own stablecoin “Sber”, in December 2020. 

In the present time, In Russia, Cryptocurrency Market is under investigation and the government is planning their regulatory framework to make crypto assets to be traded with better protection for the Russian crypto community.

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