RAKIB proposed to the State Duma amendments to the bill on the legalization of cryptocurrency

The Russian Association of Cryptoindustry and Blockchain (RACIB) proposes to amend the draft law on the legalization of the cryptocurrency industry in Russia.

It clarifies the agency RBC, the association urges the deputies of the State Duma of the Russian Federation during the next consideration of the bill on the legalization of digital currencies to introduce a set of amendments. At RACIB, they are taking the initiative to adopt such amendments that will not hinder the development of the cryptocurrency industry and will create conditions for capital inflows to the Russian market.

Market participants should be given the right to issue tokens that will certify the rights of claims under a specific agreement between a startup and an investor. Such a mechanism will help minimize the risk of fake token exit and protect the interests of investors.

RAKIB stands for legal circulation of cryptocurrency in the market, and the system of taxation of cryptocurrency transactions should be as transparent as possible. In 2006, the association proposes to introduce the concept of mining and streamline the partner recognition mechanism into the Law “On Information and Information Technologies and Information Security”.

The Law “On the National Payment System” of 2011 needs to work out a system for using digital assets when paying for goods and services. In addition, it is proposed to introduce a simplified token emission system.

Rakib experts are ready to cooperate with the relevant committees of the State Duma to develop the most optimal draft law on the legalization of the cryptocurrency industry in Russia. This will help prevent the adoption of a tougher version of the law , which is already under consideration by the pavlamenta.