The draft-law “On digital financial assets” aimed at regulating crypto-related matters in Russia has been officially filed in the State Duma on Tuesday. Disagreements between the Central Bank and the Ministry of Finance have been resolved, according to Deputy Finance Minister Alexei Moiseev. The CBR will have the final say in regards to the circulation of cryptos in the Russian Federation.
The Law Regulates ICOs and Crypto Mining
The bill expected to regulate cryptocurrencies, initial coin offerings and crypto mining, has been introduced in the lower house of Russia’s parliament. The official website of the State Duma shows draft №419059-7 has been filed on Tuesday, March 20. The news comes right after Russians gave Vladimir Putin his fourth term in the Kremlin on Sunday. Preliminary results show the President has received more than 76% of the vote.
The draft law “On digital financial assets” defines the legality of “the most widely spread financial assets, currently created and/or issued using digital financial technologies”, according to the explanatory note. It clearly states that the bill covers the implementation of “distributed ledger of digital transactions”. The new legislation also creates “conditions for attracting investments by Russian legal entities and individual entrepreneurs through issuing tokens”. Tokens are described as a “type of digital financial asset”.
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https://news.bitcoin.com/bill-on-digital-assets-filed-in-the-duma-disagreements-resolved
