The court declared bitcoin property

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The court declared bitcoin property

The arbitration court of Moscow has accepted the decision on inclusion in the bankruptcy estate of the debtor Ilya Tsarkov cryptocurrency. This decision was taken in the early summer of 2018, although the first half of the year, the court did not include scriptactive in the bankruptcy estate.

Bankruptcy Tsarkova was initiated at the request of the financial Manager Alexei Leonov. Accused last year filed for bankruptcy. He had 18 million rubles LLC “Rikas Finans” and allegedly lacked the funds to repay its debt. The representative of the company Alexey Leonov found out that the accused was cryptocurrency wallet www.blockchain.info and demanded to withdraw funds (0,19 bitcoin) that kings kept it.

But during the initial consideration of the case the court did not satisfy the requirement Leonov. The exact reason for the court not announced, but most likely, the hearing was moved due to the fact that in the legal field of Russia there is no concept of “cryptocurrency”. However, virtual money is the object of civil law. In addition, the Ministry of Finance and the Central Bank have jointly developed a draft law “On digital of financial assets”. Exactly he was referring to Leonov because the bill provides for tokens and cryptocurrencies, the digital status of a financial asset.

Recognition of crypto currency asset creates a precedent (although the judicial system of the Russian Federation does not use the Anglo-Saxon judicial tradition). Now the cryptocurrency can withdraw as means to settle debts, pay the fines, and so on. It can also lead to the fact that it will soon become necessary to revise already adopted and the emerging crypto-projects and crypto-bills.

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