The Russian court first recognized the cryptocurrency as a wealth

Ninth Arbitration Appeals Court in Moscow decided to include in the bankruptcy estate of the bankrupt Ilya Tsar’kova cryptocurrency belonging to him. Financial manager Tsarkova and his opponent in court Alexei Leonov reported this to RIA Novosti.

The bankruptcy of the debtor is all his property, which can be included in bankruptcy proceedings. “The court ordered the debtor to give the financial manager a password for access to the cryptocurrency wallet to replenish the bankruptcy estate,” Leonov said. Thus, the crypto currency was first recognized as a wealth in Russia.

The Court of Appeal overturned the definition of the lower court and resolved the matter on the merits. Other details are not yet reported.

Tsarkov was declared bankrupt in October. The basis was the debt to OOO Rikas Finance in 19 million rubles. The arbitration established that the debtor, whose salary is one hundred thousand rubles, does not have the means to repay it. Source:

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