The state of cryptocurrency regulation in Russia has taken another twist as a local court has ordered the country’s largest bank to resume account support for a Bitcoin trader.
Sverdlovsk regional court, a court in Russia’s fourth-largest city of Yekaterinburg, has ordered Sber, formerly known as Sberbank, to unblock account services to a client involved in Bitcoin trading, according to an official announcement on Monday. The client’s bank accounts processed multiple transactions associated with trades on cryptocurrency exchanges from May to August 2020.
Sber blocked the individual from access to their bank accounts, citing suspicious transaction activity and Anti-Money Laundering policies. The bank also refused to resume the service after the client attempted to regain access to their accounts by providing detailed information about their Bitcoin trades on crypto trading platforms.