Dmitry Medvedev instructed to adopt a bill on digital assets before November 1

The draft law “On digital financial assets” should be adopted before November 1, 2019. Such an instruction to the Ministry of Finance and the State Duma was given by the Prime Minister Dmitry Medvedev, reports RNS with reference to the minutes of the meeting with the head of government.

The head of the State Duma Committee on the Financial Market, Anatoly Aksakov, who attended the meeting with the Prime Minister, confirmed the information.

“At the meeting, it was announced that before November 1 we need to adopt and legally resolve this issue, respectively, now there will be a more active conciliation procedure,” Aksakov said.

He also noted that the bill itself is almost ready, but the authorities have not yet decided on the regulation of cryptocurrency.

“There was a fork in the road, whether we legalize cryptocurrency in this law or prohibit working on the territory of Russia in the infrastructure with open blockchains, that is, with Bitcoins and other cryptocurrencies.”

If the activity using cryptocurrency is still allowed, it will be carried out "only under the supervision of the Central Bank."

The receipt of the order from Dmitry Medvedev was also confirmed by the Ministry of Finance:

"The Ministry of Finance of Russia is involved in this issue in order to ensure the speedy adoption of the bill," the ministry said.

Recall, the Russian authorities have several times postponed the adoption of the law on digital financial assets.

Recently, Deputy Finance Minister Alexei Moiseev said that the bill was “stuck” at the discussion level, since the Russian authorities are still unable to decide on the vector of regulation of the use of cryptocurrency.

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