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St Petersburg Court Overturns Bitcoininfo Block

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Russian news firm TASS has reported that the St Petersburg city court has overturned a long-standing block on the Bitcoininfo.ru website:

The St. Petersburg City Court quashed the decision of the district court to recognize the information posted on the Bitcoininfo.ru website.

[translated from Russian]

The block dates back to 2016, when the Vyborg Court of St. Petersburg issued the block. At the time, this was in accordance with a strict block on all information sites related to Bitcoin, amid a blanket ban on crypto. However, this is now close to being outdated, as a new set of regulations from Putin’s office is due for July 1st. The legislation will include a bill called “On Digital Financial Assets”, which is expected to pave the way for some crypto trading, although it is not yet known the extent to which the bill will allow it.

However, this most recent overturn comes in context, as another 40 Bitcoin websites had their bans overturned earlier this year, signalling a change in mentality at law-making level in Russia.

Russia had previously been mulling over the creation of its own state-backed currency, often dubbed the “crypto ruble”. This is thought to still be under consideration, but there have been no updates as yet. Originally, the launch for a trial of this currency was thought to be mid-2019; it is certainly possible that the upcoming regulations shed new light on this.

Image Credit: Deposit Photos

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