In one of the most insane crypto court rulings in history, the District Court of St. Petersburg ruled that the theft of 100 Bitcoins (BTC) is technically not a crime. This establishes the ridiculous and dangerous precedent that criminals in Russia can steal Bitcoin (BTC) and not get charged with a crime, even if they are caught red handed.
What happened in this case is that two men impersonated Russian Federal Agents and kidnapped a wealthy man, and ultimately stole 5 million Rubles worth $90,000, in addition to stealing 99.7 Bitcoins (BTC) which are worth over $900,000 currently.
The criminals who did this received 8 and 10 year long prison sentences, due to the kidnapping and stealing the cash, but the judge only demanded that they pay 5 million Rubles of restitution.
The victim protested and asked for the $900,000 of Bitcoin (BTC) to be repaid, but the judge refused.
The judge said that Bitcoin (BTC) is not legal tender in Russia, nor is Bitcoin (BTC) recognized as property, but rather Bitcoin (BTC) is a virtual currency. The problem is Russia has little to no legal framework for virtual currencies, so the judge was not legally able to make a ruling on Bitcoin (BTC).
Literally, due to the lack of virtual currency laws, stealing Bitcoin (BTC) in Russia is outside of the jurisdiction of the courts.
In this particular case this ruling doesn’t make much of a difference, since the criminals who did this are in prison and likely won’t pay back any restitution. However, this judge just opened the door for hackers to attack all Russian crypto holders, which seems like a foolish decision.