Bitcoin, Crypto currency, Blockchain

Russian newspaper must pay a fine because of Bitcoin-display

348462e19316f913d90733b5508cdb4c - Russian newspaper must pay a fine because of Bitcoin-display


The Eleventh arbitration court upheld the conviction of a newspaper publisher of the “Unity of the Republic of Belarus”. In the newspaper an ad for a financial service provider has been reprinted with the focus on crypto-currencies. The Bitcoin indicator had failed because of a procedural error against the law.

On 08. August, reported the Moscow news Agency Interfax of a confirmation of the judgment by the Eleventh court of arbitration. In the first instance, convicted the publisher of the “Unity of the Republic of Belarus”, based in Tatarstan for payment of 50,000 rubles. According to the court, the small publisher from the European part to have failed of Russia against the standards for the publication of Advertisements. The lawsuit had originally launched a local authority for the fight against the monopolies, and a branch of the Russian Central Bank. In the second instance, the judge lowered the sentence because the publisher is for the first time noticed a negative impact. The judges also assume that this is not a financial loss is incurred and the security of Russia was in jeopardy at any time.

Bitcoin-display: severity of penalties in the second instance lowered

Decisive for the judgment, the fact that you have not called the advertiser in the advertisement in particular. Who teaches in Russia’s financial services, is not allowed to do this anonymously. In contrast to the defense, the court sees the company not as advice, but as a provider of financial services. In this case, it is not sufficient, in the display, only the phone number of the contact person, specify that the advertiser must be named. Richard Timurovitsch advertised in his ad for the trading with Bitcoin, Ethereum, and Zcash. They also dealt with the paid support of its customers in the construction and operation of Mining equipment.

Russia: crypto-currencies are still in the Mainstream

The fine of the equivalent of around 650 euros was repealed in the second instance. The height of the now lower level of penalty has not disclosed to Interfax, unfortunately. Crypto currencies in Russia, apparently, is still a niche topic. According to a recent survey, only half of the Russian citizens has ever heard of it. In addition, only 13 percent of the respondents reported to have in the last few years, more Details about crypto-currencies.

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