Cryptocurrency ATMs in Russia has come to an end

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In accordance with the order of the Central Bank of Russia, police confiscated 22 cryptocurrency ATM machine, owned by BBFpro. The firm’s representatives intend to appeal against the actions of security forces in the court, as they believe the seizure of illegal machines.

Using cryptomate you can buy bitcoins worth up to 15 thousand rubles without the need of verification of personal data. For larger amounts, the customer had to enter your phone number, date of birth and passport number. Despite these measures, the Russian authorities believe that kryptonite could use criminals for illicit financial transactions.

Representatives of the Central Bank explained the decision on the withdrawal of devices:

“We conduct systematic work on counteracting illegal activities in the financial market. International money transfers with the use of cryptocurrency ATMs can be used to perform illegal transaction and, therefore, bear the increased legal risks”.

Cryptomate confiscated for inspection, which will last at least six months. However BBFpro this situation is not satisfied. The company’s representatives plan to appeal to court with the requirement about compensation of the material damage, however, operation for the confiscation of cryptomate led DAEC, so the chances of the company winning the trial are slim to none.

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