Russia is in a love-hate relationship with cryptocurrencies and their previous ban didn't help things. Since the supreme court of Russia is now reviewing the ban, there may be hope for legal dealers to once again have a presence in one of the world's largest markets.
The drama in Russia had gone back with the approval to block Bitcoininfo.ru, which set the precedent that Bitcoin, in general, was illegal. The website itself didn't even sell Bitcoin but rather published news and information about cryptocurrencies. Just the existence of Bitcoin was considered an attack against the Bank of Russia and even news websites were to be punished.
Even later, over 40 Bitcoin-related websites were put on review due to the fact that they promoted Bitcoin as a currency. The Russian government wanted to put an end to the shadow economy that is outside of the Ruble, making it so that criminals could not launder money. Within their review, they claimed that weapons, drugs, and illegal documents could be sold using the currency without leaving a trace behind.
Even Telegram was banned by the Russian government since users may freely share information about cryptocurrencies and other sensitive issues anonymously. Even though the government is banning millions of IP addresses with various bans, such services are still operational and tech-savvy users will use them anyway.
Fortunately, the supreme court will review the documents once again to reconsider the bans with new information coming to light. To avoid bias, the case will be passed along to a different wing of the court.
The Digital Rights Center is behind filing the appeal and it won't likely be the last one to come. The Digital Rights Center is based in Moscow and they fight for the legal rights of Russian-based digital businesses.
Considered to be a for-profit organization, they offer services to tread through the archaic legal system so that the Russian internet can be freer. They specialize in Bitcoin and blockchain cases since there is so much demand in the country. In general, they help other tech businesses with similar legal issues, including intellectual property rights and censorship.
Comments