Regulation of cryptocurrency in Russia will be implemented within the framework of offshore zones (SAR)

The deputy head of the Ministry of Economic Development Ilya Torosov said that the ministry is developing a third package of measures for the development of “Russian offshore companies” (Special Administrative Regions, ATS), which will include the regulation of cryptocurrencies.

Recall that in the winter of 2018, Deputy Finance Minister Alexei Moiseyev told reporters for the first time that the Ministry allows for the creation of offshore zones in the country for trading cryptocurrency .

According to Moiseyev, such zones may arise :

• in Kaliningrad,
• on the island of October (located in the Moscow district of the Kaliningrad region),
• on Russky Island (located in the Peter the Great Bay of the Sea of Japan, a few kilometers from Vladivostok).

The first package of bills on ATS was adopted by the State Duma in the summer of 2018.

Residents of these areas will be exempt from taxes on ships and will be able to issue shares of various types. In addition, there will be a special regulation of digital assets in these zones. Deputy Minister told:

“We are working on the issue of exempting ships registered in the Russian open registry of ships owned by residents of the SAR from VAT, income tax, transport tax, property tax. We are also discussing lower rates of insurance premiums, liberalization of labor legislation in respect of members of ships' crew. Plus – features of the regulation of digital assets. "

Torosov explained that the regulation of digital assets implies the possibility of using cryptocurrency. He said:

“It is clear that this is a cryptocurrency, but so far we are speaking more generally. In terms of the adoption of the third package is not ready yet to say. These are already very difficult things. ”

Also, the third package for ATS will include features of corporate governance. Deputy Minister told:

“We offer in the third package to take into account the possibility of issuing shares of various types. The same Yandex says that because of the need for different types of shares, it is registered in the Netherlands. Different types of shares are when participation, for example, in the distribution of dividends you have is the same with everyone, but participation in voting is different. ”

According to him, the ministry has already discussed the possibility of re-registering Yandex and other technology companies:

“Of course, discussed. But let's first take the third package, and then we will talk about it. That is, in the next forum – Petersburg. ”

The XXIII St. Petersburg International Economic Forum will be held in the northern capital from June 6 to 8, 2019.

Publication date 02.03.2019
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