The draft law on the regulation of the crypto-industry in the Russian Federation may be adopted on March 5,

Deputies of the State Duma may, during the second reading on March 5, adopt a package of bills on the digitalization of the economy, including documents on the regulation of relations in the cryptocurrency industry.

As Andrei Isaev, deputy head of the United Russia faction in the State Duma, noted, during the second reading, parliamentarians plan to adopt documents on basic concepts in the field of digitalization of the Russian economy.

The deputy stressed :

“During the second reading, we plan to consider a very important bill that was introduced by a group of deputies led by the speaker of the lower house of parliament Vyacheslav Volodin on digital assets.”

Isayev said that the State Duma is accelerating work in this direction at the request of Russian President Vladimir Putin .

Note that last week the Presidential Administration issued a statement demanding that parliament accept a package of documents on regulation of relations in the blockchain-sphere by July 2019.

First of all, deputies want to make changes to the Civil Code and prescribe in it the definition of such basic concepts as “ cryptocurrency ”, “ tokens ”, “ smart contracts ” and others.

In addition, in the State Duma, during the second reading, they expect to adopt documents that spell out mechanisms for regulating relations between cryptocurrency holders, as well as consolidate the norms of the so-called “digital right”.

Publication date 05/03/2019
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