In Russia, the number of court cases related to cryptocurrencies has quintupled in two years. More than half of these proceedings involve bankruptcy litigation. Analysts linked the trend to the development of the crypto economy in the country.
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Over the past two years, the number of cryptocurrency-related court cases heard in Russia has almost quintupled. This is clear from the results of a study carried out by the EDB law firm and the educational platform Moscow Digital School, which is part of Ultimate Education.
By the end of 2023, the number of cryptocurrency-related litigation increased by 72% year-on-year and reached 2,653 cases. 1,646 of them refer to bankruptcy litigation, 91% more than in 2022. In addition, the number of civil cases increased by 60%, criminal cases by 34% and administrative cases by 19%.
“The expected increase in the number of cryptocurrency-related litigation in the near future reflects both the expansion of the crypto economy and the increasing complexity of the legal issues associated with it,” said EDB Intellectual Property Practice Counsel Kristina Mkrtchyan. .
Analysts expect that in the near future the number of court cases related to cryptocurrencies will increase and that judicial practice itself will face new types of disputes.
Author:
Kirill Bilyk
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
