Russia’s cryptocurrency supervision situation has changed again, as the local court has ordered the country’s largest bank to restore support for Bitcoin accounts (Bitcoin) merchant.
The Sverdlovsk Regional Court is a court in Yekaterinburg, Russia’s fourth largest city. order According to an official announcement on Monday, Sber, formerly known as Sberbank, will cancel account services for customers participating in bitcoin transactions. From May 2020 to August 2020, the client’s bank account processed multiple transactions related to cryptocurrency exchange transactions.
Sber used suspicious transaction activity and anti-money laundering policies to prevent this person from accessing his bank account. The bank also refused to restore the service after the customer tried to re-access his account by providing details about his bitcoin transaction on the encrypted trading platform.
The client later filed a lawsuit with the city court and subsequently filed an appeal with the Sverdlovsk District Court, accusing Sber of infringing consumer rights.
According to the latest ruling of the Sverdlovsk Regional Court, after the customer “disclosed the economic significance of the transaction and specified the source of funds,” Sber has no reason to continue to block account services and restrict customer access to remote banks and bank cards.
The court ruled that Sber must unlock the customer’s bank card and restore remote banking services, while ordering the bank to repay the customer’s legal fees. The court still rejected the customer’s request for compensation for mental damage, and pointed out that the plaintiff “did not use his bank account and bank card to provide compensation for mental damage related to the infringement of property rights.”
Sber is a Russian state-owned bank and the largest banking institution in the country.The bank is known for supporting negative stances on Bitcoin, and CEO Herman Gref believes that cryptocurrencies like BTC are The most risky investment types Keep pace with the stock market. Sber’s criticism of Bitcoin is consistent with the anti-crypto stance of the Central Bank of Russia, which reportedly has Withholding local bank From providing encryption services.