The St. Petersburg Court has invalidated the ban on some 40 websites related to cryptographic currencies and exchange services in Russia. This prohibition was pronounced by a court of first instance last May, at the request of the prosecutor. It prohibited the "dissemination of information" on bitcoin, as well as the purchase and sale of cryptocurrency.
It's a small, but important victory for the Russian cryptocurrency community. The court in St. Petersburg has invalidated a ban that affects more than 40 websites related to cryptographic currency, according to the NGO Roskomsvoboda. It was decreed by a district court in May 2017, at the request of the prosecutor's office. The measure effectively provided for censorship of access to certain platforms and prevented certain exchange services.
Following their ban last year, the owners of the websites concerned appealed the decision of the local judicial authorities in the second largest city in Russia. The Oktyabrsky District Court had declared that the dissemination of information on bitcoin and the use of cryptographic currency was illegal in the Russian Federation. His decision had been forwarded to the Russian Telecommunications Supervisory Agency, which was supposed to blacklist the sites.
"The very existence of a cryptocurrency outside the legal framework does not provide for the implementation of legal mechanisms to ensure that the parties fulfill their obligations," had decreed the decision of first instance. The Regional Court also noted that bitcoin was not "backed by real value" and that its use was anonymous. He further stated that the Russian ruble was the only official currency of the country, stressing that it was forbidden to issue other currencies and monetary substitutes.
The case will now be returned to the Oktyabrsky District Court. According to Russian law, it should be re-examined by a new jurisdictional chamber.