The State Duma passed the law on digital financial assets in the final …

State Duma Adopts Law on Digital Financial Assets in Final Reading

Digital Financial Law assets was adopted by the State Duma in the final third reading this Wednesday. The adoption of the law in the first reading took place back in May 2018 of the year, since since the document has undergone significant changes. The established requirements come into force on January 1, 2021.

IN adopted edition, a digital currency is described as a collection of electronic data that may be taken in quality funds payment that is not a monetary unit of the Russian Federation or a foreign state, as well as an investment. For payment goods or services such a tool cannot be used.

The State Duma passed the law on digital financial assets in the final ...

Digital financial assets (DFA), on the other hand, represent myself digital rights including monetary claims, possibility the exercise of rights for equity securities, the right to participate in the capital of a non-public JSC, the right to demand the transfer of equity securities, which fixed in decision on the release of CFA.

how earlier explained the chairman of the State Duma Committee on Financial the market Anatoly Aksakov, issued under Russian law, CFA can be purchased in credit institutions. Distribution of other DFAs can carried out only through foreign sites.

For the issue and purchase / sale of CFA, special information systems will be organized, which will be regulated by the Central Bank. is he the same will determine the signs of DFA, access to which they will have only qualified investors, and maintain a register of exchange operators for digital currency exchange.

The document does not imply criminal and administrative responsibility for operations with cryptocurrencies, but this does not mean that the corresponding norms not will be included in a separate bill, which will be regulate mining and turnover digital currencies on territory of the Russian Federation.