Verification by Central Bank. Exclusion from the Central Bank black list

After a thorough verification of activities conducted by the Central Bank of Russia, BIT TEAM GROUP LTD and all the associated websites have been excluded from the list of companies with evident signs of illegal activities in the financial market (https://cbr.ru/inside/warning-list/).

In July, 2021 BIT TEAM GROUP LTD was included in the list of companies with evident signs of illegal financial activities, and we first learned that from our users as we received no legal notices on this issue.

As long as our team makes every effort to comply with the legislation, we prepared a strong legitimate reasoning and provided the evidence for legitimacy of our activities.

After a long and detailed audit of the data provided, the Central Bank of Russia decided on excluding BIT.TEAM from the list of companies with evident signs of illegal activities in the financial market.

Thus, BIT.TEAM company’s operation fully complies with the legal framework, and this was verified by the Central Bank.

It’s crucial that the Central Bank of Russia has settled the situation and listened to the position of crypto entrepreneurs, protecting their interests. For BIT.TEAM, the fact that it has been excluded from the Central Bank black list is an important step towards regulation of of crypto activities in Russia.