A Russian court has denied a claimant the right to reclaim almos BTC 100 (USD 920,000), stating that crypto has no legal value – meaning courts are powerless to enforce property rights.
Per a Telegram post from the district court’s press office, in Russia’s second-largest city, St. Petersburg, a judge ruled that bitcoins and other tokens that make use of cryptographic and blockchain technology cannot be considered as property in criminal cases, due to the fact that cryptocurrencies have no legal status in the country.
The court justified its decision by stating that central Bank of Russia guidelines stipulate that cryptocurrencies may not be used as a means of payment or a form of exchange in the country.
However, cryptocurrency experts in the country say they are baffled by the decision.
Russian crypto investment advisor Dmitriy Zaikov told Our,
bestadmin
