Russian Court Orders Sberbank to Remove Crypto Trading Restrictions

Rahul Nambiampurath
·1 min read

BeInCrypto –

A Russian court has asked the country’s largest bank to unblock a user’s account after it was frozen for transactions related to crypto trading.

A Russian court has ordered the country’s largest bank to unblock the accounts of crypto traders, potentially signaling a change in its regulatory stance. The Sverdlovsk regional court, a court in Russia’s fourth-largest city, Yekaterinburg, commanded Sberbank to return normal services to clients it had blocked for trading bitcoin.

A Russian citizen by the name of Pavel R. had his accounts blocked after the bank suspected money laundering. After Pavel R. provided the necessary documents to prove that was not the case and that he had only been trading bitcoin, the bank froze his accounts. He subsequently filed a lawsuit, which resulted in services being restored.

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