A court has ordered one of Russia’s largest banks to lift
restrictions imposed on the accounts of a Russian citizen who was
selling digital coins on cryptocurrency exchanges. The
state-owned giant Sberbank will now have to unblock its client’s cards
and restore his access to its online banking platform.
Regional Court in Russia Rules in Favor of Crypto Trader Suing Sberbank
The plaintiff identified as Pavel R., a resident of Revda in
Sverdlovsk Oblast, had accounts and cards issued by Sberbank and was
also offered remote banking services as per his contract. Between May
and August last year, he received regular deposits from other
individuals and withdrew the money.
The bank decided these were unusual transactions that could be linked
to money laundering and blocked Pavel’s accounts and cards. He was
asked to prove the source of the funds, explain the purpose of the
transactions and told that any future operations should be ordered in
person.
But even after Pavel presented all the necessary documents showing
the transfers were linked to the sale of cryptocurrency on various
exchanges and filed a claim with the bank, the restrictions remained in
place. Convinced the bank’s actions contradicted the law, the Russian
crypto trader filed a lawsuit with the Revdinsky City Court, but the
court of first instance turned down his request to restore access to his
accounts.
Sberbank’s client then submitted an appeal with the Sverdlovsk
Regional Court. The court agreed that the bank had the right to suspend
its services to the plaintiff but noted that even after receiving
evidence indicating the nature of the transactions, the defendant did
not lift the imposed restrictions and didn’t respond to Pavel’s claim.
In a press release,
the Sverdlovsk Regional Court pointed out that while crypto trading was
not regulated by Russian law at the time of the dispute, it was not
prohibited either. It also elaborated:
Since the client disclosed the economic meaning of the
transactions and indicated the source of the funds, the Bank had no
reason to maintain the blocking of the bank cards and limit the
provision of remote banking services.
The regional court disagreed with the Revdinsky City Court’s
conclusion that Pavel’s rights were not violated. “Under the terms of
the contract, the Bank is obliged to not only open and maintain an
account, but also provide an additional remote banking service that
allows the client to use the account without visiting the Bank’s
offices. However, at the moment Pavel R. is deprived of such
opportunity,” the judges explained.
Sberbank
has been obliged to restore Pavel’s access to its online services and
unblock his cards and accounts. The Russian bank will also have to cover
the costs of the legal proceedings in Sverdlovsk region.
source link : https://news.bitcoin.com/court-orders-russias-sberbank-to-unblock-crypto-traders-accounts/
