Russian police seized 22 bitcoin ATMs in 9 cities

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Russian law enforcement officers seized 22 bitcoin ATMs installed in shops and restaurants in 9 different cities. The confiscation was carried out by order of the Prosecutor's office and the Central Bank, local media reported. Currently, the work of ATMs for the sale of cryptocurrency in the country is not regulated.

As reported in the media, 22 of the withdrawn terminal, intended for the purchase of cryptocurrency are being operated by Bbfpro, which maintains a network of bitcoin ATMs across the country, according to RBC with reference to the lawyer Sarkis Darbinian of Digital Rights Center (DRC), which represents the interests of the company. His organization specializiruetsya on the provision of legal aid to companies from the digital industry, including companies involved in cryptocurrency and bloccano.

Bbfpro Manager Artem Bedarev told Russian media that his company had not received any requests from the authorities before the seizure. He said that he had been informed informally that the investigation would continue for at least six months and the cars would not be returned until it was completed. The officer, who participated in the confiscation on Friday, said that the operation was ordered by the Prosecutor General's office at the request of the Central Bank of Russia (CBR).

The official of the Central Bank refused to provide detailed information on the case Of bbfpro ATMs, but said that the regulator is carrying out "systematic work to identify and combat illegal activities in the financial market." He further explained that the possibility of uncontrolled cross-border transfer of funds and their subsequent cash payments increase the risk of using cryptocurrency in illegal activities. The Ministry of internal Affairs and the Prosecutor's office has not yet responded to media requests for comment.

Bbfpro vs
Sarkis Darbinyan noted that the current legislation in the Russian Federation does not prohibit the purchase of cryptocurrency. He also stressed that the company he represents complies with all legal procedures, pays taxes and performs identity verification of users even in the absence of a mandatory requirement for this procedure. The lawyer added that Bbfpro is currently assessing the financial damage caused by the withdrawal of bitcoin ATMs of The company, and will appeal against the actions of law enforcement agencies.

According to the Bbfpro website, its devices support the purchase of bitcoin (BTC) and other cryptocurrencies. The firm works with Exmo, a popular crypto-exchange in the post-Soviet space, and offers technical support to retailers. One terminal costs Bbfpro 155'000. For its services, the company charges 1 percent of the turnover.

Cryptocurrencies and related activities such as trading and mining have not yet been legalized and regulated in Russia. It is expected that this will happen during the autumn session, when the state Duma, the lower house of the Russian Parliament, will meet after the holidays in September. Three bills relating to cryptocurrency and blockchain have already been considered in the first reading in may — "on digital financial assets", "on attracting investments using investment platforms" and "on digital rights". Deputies tried to synchronize to consider bills before a summer break, but as a result decided to postpone the final decision for autumn.

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