Russia May Not Regulate Cryptocurrencies before Autumn, Senior Official Says
As per the sources, the Russian government may postpone the idea of adopting the legislation of cryptocurrency until the autumn.
The reason for this rescheduling is the confusion of the lawmakers. The lawmakers do not make a decision in the hurry as it may have an adverse effect on both the economic and technological development of the country. The legislation on cryptocurrency was supposed to pass by The State Duma in this June. However, the lawmakers are not paying any attention towards it until the autumn as there are some issues which need to be solved.
As per the statement of Anatoliy Aksakov who is the chair of the Duma’s financial markets committee, Cryptocurrency is very complex and he is determined to pass the law by the end of the season. He also talks about the doubts which cannot be ignored.
Aksakov also believes that soon there will be laws that would concentrate on digital financial assets and crowdfunding platforms which will be adopted together including the rules on digital rights. There are two bills involved, the first one defines digital assets like cryptocurrencies and tokens. Also, it codifies a smart contract as a new type included in the legally binding contract.
The second bill is responsible to regulate the process of generating revenue through the investment platforms and also introduces the digital right.
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