Irkutsk Prosecutor’s Office Fines Crypto Entrepreneur
An entrepreneur from Krasnodar was fined 50,000 rubles for installing bitcoin ATMs in the city of Irkutsk, Russia, as follows from the press release of the local prosecutor’s office.
The law enforcement agencies checked the activities of the businessman for compliance with the law during the cryptocurrency distribution. As a result, the prosecutors found violations that could lead to money laundering and the financing of terrorist organizations. Based on the materials received, an investigation was opened under the Code of Administrative Offenses.
The Krasnodar entrepreneur received the prosecutor’s order, under which he should pay a fine of 50,000 rubles and eliminate the law violations.
In September 2018, the Russian police seized the crypto ATMs of BBFpro, which were located in nine cities throughout the country. The case was initiated by the Central Bank.
Representatives of the country’s authorities have repeatedly expressed support of cryptocurrencies and blockchain. Now there are several draft laws on the crypto sphere under consideration in the State Duma.
However, some experts doubt that the adoption of these laws will help the development of the crypto industry. Moreover, Elina Sidorenko, the head of the parliamentary working group on risk assessment of cryptocurrency turnover, expressed the opinion that the new bill on digital financial assets can harm the crypto sphere within the state.