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Binance crypto exchange achieved unlocking in Russia
21.01.2021 [13:47],
Vladimir Mironenko

On January 20, the Arkhangelsk Regional Court overturned the decision to block the site of the crypto exchange Binance in the Russian Federation, Kommersant reported, citing Gleb Kostarev, director of Binance in Russia. Binance is one of the most popular crypto exchanges in the world with an average daily trading volume of $ 3.88 billion in 2021 and 16.7 million users worldwide.

The site of the crypto exchange was blocked in September 2021 in pursuance of the decision of the Mirny court of the same region at the request of the local prosecutor. The reason for the blocking was the statement of the prosecutor about the prohibition in Russia of the dissemination of information about bitcoin, which was traded on the exchange.

According to Kostarev, the company learned about the trial only from the notification of Roskomnadzor about the inclusion of its website in the register of domain names containing information prohibited for distribution in the Russian Federation.

The fact that Binance was not notified of the start of the proceedings, Mikhail Bautin, partner of the law firm Digital Rights Center, who represented the interests of the crypto exchange in court, called a “gross procedural violation”. In this regard, the exchange had to restore the missed appeal deadline, and only after that the lawyers were able to file an appeal. It is reported that, as such, there were no proceedings on the merits, since after appealing the verdict, the prosecutor’s office dropped the claim.

According to Alexander Zhuravlev, partner of the legal company EDR, the situation with the blocking of the Bestchange crypto exchanger was resolved in a similar way.ru, when the Supreme Court returned the case to the court of first instance and the prosecutor’s office dropped the claim. According to Zhuravlev, the problem with such disputes is that in this case the prosecutor’s office retains the right to file a similar new application for the same reasons to the same companies.

Alexander Zhuravlev noted that due to the entry into force of the law on digital financial assets (DFA), the situation with blocking may worsen.

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