Russia’s Police Confiscates 22 Bitcoin (BTC) ATMs in 9 Russian Cities

Russia’s Police Confiscates 22 Bitcoin (BTC) ATMs in 9 Russian Cities

Cryptocurrency News
September 3, 2018 by Jane
1274
Russian enforcement agencies have started a clamp down on cryptocurrency, confiscating about 22 automated teller machines selling cryptocurrency in shopping malls, stores, and restaurants in nine Russian cities. According to local publication RBC, the ATM developer impacted by the seizure plans to appeal the action, and has incurred economic damage and costs to its reputation, said
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Russian enforcement agencies have started a clamp down on cryptocurrency, confiscating about 22 automated teller machines selling cryptocurrency in shopping malls, stores, and restaurants in nine Russian cities.

According to local publication RBC, the ATM developer impacted by the seizure plans to appeal the action, and has incurred economic damage and costs to its reputation, said Sarkis Darbinian, an attorney for the Center of Digital Rights, which defends the company.

Artyom Bedarev, CEO of BBFpro, claims that the company never received any requests from law enforcement agencies, and the team does not know the reasons for the seizure. He also added that the audit will last for more than six months, and the firm will not be able to get the terminals back until the investigation is completed.

According to Bedarev, a police officer mentioned that the investigation had been initiated by the Prosecutor General’s Office on demand of the Bank of Russia.

Meanwhile, an official of CBR who failed to provide detailed information on the issue said that the regulator conducts “systematic work to identify and counteract illegal activities in the financial market.”

He said that unregulated cross-border movement of funds and cash out opens cryptocurrencies to illegal uses.

 

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