Russia is heading for a new regulation on crypto currencies. According to Russian local media Vedomosti on October 21, the bill on the long-awaited code of Krypto money and Blockchain will allow private companies and legal entities to “digitize” shares and store them through Blockchain.
According to the draft law on “digital financial assets” reported by Vedomosti, the sub-assembly of the Russian Federation Duma plans to allow private owners to produce and sell assets called “digital financial assets (DFA)”. DFA data is reported to be verified by the Russian central
bank and stored with Blockchain.
Russia allows the court to apply for Krypto currencies
According to the Russian business news media RBC, a DFA is essentially equivalent to a crypto “token” under a different name. RBC’s reports will prepare a report for the inclusion of DFA’s definition in Russian civil law, thus allowing investors to apply to the courts in case of violation of token issuance rules.
If the new law passes through Parliament, all regulations will be applied to responsible companies and non-public companies. However, once a company has exported these assets, it will no longer be disclosed to the public through traditional methods.
“Digital financial assets” were first introduced by the Russian Ministry of Finance in January, and the new law was expected to be approved on July 1, 2018.
Since the first” disappointing ” crypto arrangement, a lobby group from the Russian trade union of industrialists and entrepreneurs (SCPP) began working on an alternative version of this. According to SCPP Vice President Elina Sidorenko, the new bill will help eliminate the contradictions in what she calls “unfinished and fragmented” state-draft legislation.
let’s see how the news will come from Russia in the future
The information contained in the article is for informational purposes only. Does not constitute any investment advice