Bankrupt will pay off bitcoins

Recognized bankrupt citizen Ilya Tsarkov lose cryptocurrency. The ninth Arbitration Court of Appeal ordered the debtor to pass the password to the financial manager for access to the crypto wallet. Now cryptocurrency can be included in the composition of the competition mass for settlements with creditors.

"The decision to include cryptocurrency in the competition mass is very welcome. Although cryptocurrency is not legally defined, but people buy it and sell it, so it can be implemented in the interests of creditors. Otherwise, the rights of creditors will be violated",- commented the newspaper " Kommersant” Partner of the YUST Law Firm Alexander Bolomatov. On the other hand, the lawyer continues, it is unclear how this ruling of appeal will be executed in practice. "The problem may arise with the purse itself, access to it and whether there will be bitcoins at the moment of gaining access from the manager. At this level, I think there will be a lot of polemic. Suppose the debtor will give the keys, and they do not work, or financial manager will go into the purse, and there are no bitcoins. There will be difficulties with how to establish and prove-whether there were malicious actions of the debtor to withdraw or sell bitcoins, or his purse was hacked and stolen, "-said Mr. Bolomatov. In his opinion, in the near future it is possible to expect explanations of the Supreme Court of the Russian Federation on disputes about cryptocurrency, first at the level of the review of practice, and then at the level of the plenum resolution.

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