Another innovation in the issue of cryptocurrency regulation: Russian lawmakers want to break them down into three types, taxing each of them with a separate framework.
What will be the separation of cryptocurrencies in Russia?
Deputy Minister of Finance Alexei Moiseev spoke about new ideas. A potential decision to divide cryptocurrencies into three types was made after the conference on the basis of the Russian Union of Industrialists and Entrepreneurs.
Categories are invited to establish the following :
- Virtual assets – this includes coins like bitcoin ;
- Technical tokens – cryptocurrencies involved in maintaining one blockchain system ;
- Digital financial assets are tokens that are sold during the ICO .
Moiseev noted that the regulation of each individual category will simplify the life of business, therefore, lawmakers intend to study this issue in more detail. It is not yet clear whether these innovations will be introduced into the draft bill “On digital financial assets” or whether separate norms will be created for them.
In addition, the division into categories raises a number of questions. The main one is how to distinguish technical tokens from digital financial assets, because the vast majority of ICOs issue their coins with the expectation of their participation in the project ecosystem. Let this token role is not always justified, but the fact remains – it will be very difficult to divide into categories.
Recall that, according to the decree of Dmitry Medvedev, the bill “On digital financial assets” should be adopted before November 1, that is, in a month. Whether legislators will succeed with all disputes and innovations is not clear.
Publication date 10/03/2019
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