The State Duma of the Russian Federation again postponed consideration in the second reading of the draft law on cryptocurrency and blockchain . The second reading of the draft federal law “On Digital Financial Assets (CFA)” will be held in April 2019. Anatoly Aksakov, co-author of the document of the State Duma Committee on Financial Markets, made a corresponding proposal at the plenary session on March 20.
The bill does not contain the terms " cryptocurrency ", " token " and " mining ". Instead, it regulates digital financial assets, including digital rights, as well as monetary claims and rights to equity securities.
“It’s impossible to use Russian law in open blockchains such as Bitcoin or broadcast, therefore, the lawmakers refused to regulate activities related to them,” Aksakov explained earlier.
The first reading of the draft law “On the CFA” was held on May 22, 2018. However, in November, the Codification Council recommended that the State Duma Finance Committee thoroughly finalize the bill.
Earlier in March, the Central Bank of the Russian Federation proposed, as an annex to the draft law, to limit the amount of permissible investments in digital financial assets to individuals.
Date of publication: 21.03.2019
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