Topic: [2018-03-1] Court Will Not Seize Crypto as Debt Payment from Bankrupt Citizen in (Read 121 times)
March 01, 2018, 05:28:01 PM
They would definitely seize the coins in my country. They seize coins even for tax amounts due. The good thing about BTC is that IF you have acquired them quasi-anonymously nobody knows you have them. It is interesting though that this court will not entertain taking the coins of the bankrupt individual.
March 01, 2018, 08:11:17 AM
The Moscow bankruptcy court has ruled that cryptocurrencies of a bankrupt debtor will not be seized to pay his creditors. The trustee for the case has failed to convince the judge to include the debtor’s cryptocurrencies in the bankruptcy estate.
Also read: Indians Look to Buy Bitcoin Overseas as Regulations Tighten
The court did not agree with the Leonov’s position. As they indicated in the decision, the concept of cryptocurrency is not set out in the current legislation, which does not allow to recognize digital money as property and, thus, include it in the bankruptcy assets.
https://news.bitcoin.com/court-seize-crypto-debt-payment-bankrupt-citizen-russia/
Also read: Indians Look to Buy Bitcoin Overseas as Regulations Tighten
The court did not agree with the Leonov’s position. As they indicated in the decision, the concept of cryptocurrency is not set out in the current legislation, which does not allow to recognize digital money as property and, thus, include it in the bankruptcy assets.
https://news.bitcoin.com/court-seize-crypto-debt-payment-bankrupt-citizen-russia/
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