Russian court order mining firm Cryptouniverse facing new trial over fraud – mining bitcoin news
A major Russian mining firm is facing legal troubles in St. Petersburg, as three individuals are accusing the company of fraud. Cryptowners will now be tested after the city court issued a criminal case order during the week.
A district court refused to initiate a criminal case against the firm in 2020
According to RBCThe St. Petersburg City Court accepted the appeal of three cryptocurrency customers – one bitcoin (B T c) And bitcoin (LTC) Minor established in 2018 – and supposedly the case must go on before trial.
First, a legal case against the firm in August 2020 made headlines. The legal initiative was launched by businessman Alexey Burik, who claimed that Kryptonvers allegedly embezzled its crypto mining equipment and mining coins worth 25 million rubles ($ 340,000).
After an appeal was filed by the mining company, the police’s decision to initiate a criminal trial on the trio at the time was rejected by the Kubishevsky District Court.
As the St. Petersburg City Court accepted the plea of three people, the criminal case is targeting Kryptonivs general director Mikhail Kvasnikov, who owns about 60% of the firm.
Experts were quoted by RBC as saying that most of the legal cases against crypto mining farms, such as cryptocurrencies, relate to sudden changes in the terms and conditions of equipment usage. However, such changes are not in favor of all customers, experts said.
Is there a trade barrier regulation on Russian crypto mining?
But the problem is much deeper than it looks. The trade union of crypto miners in Russia is blaming the costly costs of installing crypto mining leaks in homes. Thus, people are forced to rely on mining data centers indirectly.
According to Maxim Nikolaev, coordinator of the crypto miners’ trade association in Russia, the lack of regulation in the crypto mining industry is somehow causing such legal trouble with mining firms.
Furthermore, the lack of such a legal framework affects the profits of customers of crypto mining companies.
What do you think about this legal case against Cryptouniverse? Let us know in the comments section below.
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