A Moscow court fined the cryptocurrency exchange Coinbase 1 million rubles for failing to localize Russians’ data. The information was reported by Vedomosti.
The platform was found liable of an offence under Part 8, Article 13.11 of the Administrative Offences Code of the Russian Federation (failure by the operator when collecting personal data to ensure recording, systematisation, accumulation and storage of the personal data of Russian citizens).
Coinbase received the minimum penalty under this article — the amount could have been as much as 6 million rubles.
In May, Roskomnadzor ordered foreign services to localise the databases of Russian users in Russia by 1 July. According to media reports, around 600 overseas companies complied with the agency’s order.
From January to September this year exceeded 185,000. This was three times higher than the figure for the same period in 2022, according to Rosfinmonitoring.
Against this backdrop, in the first half of the year the number of services accepting payments in digital assets doubled.