Russia central bank orders seizure of 22 cryptocurrency ATM machines

September 03, 2018
Chris Wheal

The Central Bank of Russia is said to have ordered the seizure of 22 cryptocurrency ATM machines ran by developers BBFpro according to recent news reports.

Russian police grabbed the ATMs from nine cities across the country at the request of the Prosecutor General’s Office, acting on the direction of the Central Bank of Russia reports claim.

An attorney for the ATM developer, BBFpro, said the company had incurred economic damage and costs to its reputation and expected to appeal the action.

Head of BBFpro, Artem Bedarev, said the company did not understand the seizure and had not receive any preliminary inquiries from the prosecutor. The company operated and maintained 22 terminals in stores, bars and shopping centers in nine cities.

It was not clear the reason for the ATM seizures and the Central Bank gave no response to questions about the raid. Sarkis Darbinyan, a lawyer from the Digital Rights Centre (DRC), which is representing BBFpro sees little justification for the move, noting that current legislation allows cryptocurrencies to be purchased.

Post written by Chris Wheal
Chris Wheal is editor of OpenLedger's news and features service. An award-wining business journalists himself, he runs a team of freelance journalists from across the UK and north America.

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