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Russian Government Bans New Crypto Website for ‘Promoting Money Laundering’

  • Richard Marley
  • July 06, 2022
  • 2 minutes read
  • 838
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The Russian government has banned the new website Bits.media for allegations of promoting illicit activities such as money laundering

Despite the rapid growth of the cryptocurrency industry, digital currencies for example Bitcoin (BTC) and their advertising of them are not welcomed everywhere. The Russian government has even blocked some media websites for allegedly encouraging money laundering activities. 

Roskomnadzor (RKN) the Russian Federal Service for Supervision of Communications, Information Technology, and Mass Media has blocked the website of a Russian cryptocurrency solution, Bits.media for users of most significant Russian providers, according to the source, that was confirmed on June 30.

As it turned out, the editors of the portal learned that the ruling of the Volzhsky District Court of the city of Saratov that five internet addresses included “material supporting money laundering” was the cause of the blockage.

As the court’s statement was in response to a lawsuit that was filed by the prosecutor’s office on March 31, with the decision being reached in April.  The blocked addresses were not named on the papers, but the legal ruling stated that they contained the data aimed at promoting crimes in the area of money laundering.

The Founder of Bits.media intends to put the ruling in dispute by stating: “We are an interested party in the case, but no one notified us of the proceedings. We were not given any opportunity to remove the materials about which the Saratov prosecutor’s office had questions. We strongly disagree with the verdict.”

The government has attempted to restrict Bits.media and other websites related to cryptocurrencies several times. According to the statement, this is not the first time the Russian government has blocked the website. The same thing happened in January 2015 when the regulator cited the ruling of the Nevyansk city court in the Sverdov region. The editors appealed the court’s ruling at the time as well, winning the case four months later, and the Roskomnadzor then unblocked the website.

Russia don’t have a healthy relationship with crypto from the start, even president Vladimir Putin requested that the central bank have an agreement on the extending industry.

Suggested Read: Russian Government to Take Regulatory Steps to Harmonize Crypto Market.