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    Home » The bill on cryptocurrency and blockchain in Russia, expert opinions and comments

    The bill on cryptocurrency and blockchain in Russia, expert opinions and comments

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    By BlockchainJournal on February 8, 2019 News
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    In the run-up to the second reading of the draft law “On digital financial assets”, experts shared their views on what additions and changes it is advisable to make in the text of the document.

    Oleg Nikolaev

    Oleg Nikolaev, a member of the State Duma Committee on Economic Policy, Industry, Innovative Development and Entrepreneurship, believes that the draft law takes into account global experience and provides for the need to maintain a reasonable level of freedom in such a delicate area as national finances.

    According to him, it is necessary to go step by step, tracking the impact of innovations on the development of the economy, therefore the first goal is to consolidate the definition of cryptocurrency , token , smart contract in the legal field for the first time, and also to form the concept of digital rights.

    According to the deputy, these tasks are basically solved, and now it remains only to carefully prescribe the legal features of the new concepts, taking into account the current legislation – first of all, the Civil Code.

    At the same time, Nikolaev stresses, digital financial assets cannot be used as a means of payment, although they will become a convenient way to attract resources from a wide, popular circle of investors through crowdfunding, without the help of traditional exchanges or banks.

    Yuri Pripachkin

    Known domestic "opinion leader" Yuri Pripachkin, president of the Russian Association kriptoindustrii and blokcheyna believes that cryptocurrency and associated changes form a new economic reality, fundamentally differs from all known financial and credit systems.

    Pripachkin says :

    “Should not be limited to the introduction of digital methods in the analog economy. The law cannot focus only on financial aspects, since the development of the electronic sphere, social networks, the Internet, including cryptoindustry, forms the “electronic counterpart” or “electronic shadow” of each user of gadgets, and the country that first will have a monopoly on control over these doubles ", will receive a huge advantage – the ability to form the fourth technological structure.

    Considering that about 60% of all innovations in cryptoindustry are to one degree or another connected with people from Russia and the Soviet Union, our country has a unique chance to “cut off the corner” by overcoming the lag behind the world's leading economies. Moreover, one of the main tasks – the creation of a system glossary of crypto-concepts – has already been solved at the level of the Eurasian Economic Union. ”

    Artyom Koltsov

    Artyom Koltsov, chairman of the expert council on digital economics and blockchain technologies of the State Duma, believes that time is a key factor in the formation of cryptocurrency legislation.

    According to him, for the six months that have passed since the bill was passed in the first reading, many of its provisions have lagged behind the entrepreneurial practice, therefore, experts and representatives of the business community have developed an alternative bill, in which three types of cryptocurrency are clearly stated, and also introduced the concept of "digital sign" – token.

    Vladimir Athos

    Vladimir Afonsky, deputy chairman of the State Duma Committee on Transport and Construction, is optimistic: he is confident that the new bill is also important because a well-functioning and legally regulated digital finance system is an indispensable condition for achieving the strategic goals that appear in May's decree of President Putin.

    The deputy is convinced that the cryptoindustry will create a completely new system of socio-economic relations: “in which the leap into the top five economies of the world will not be carried out on the basis of the usual primitive market methods known since Adam Smith, but due to digital species. "

    Publication date 02/08/2019
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