Russian Companies ‘Actively’ Using Crypto, Russia to Adopt 4 Relevant Laws, Official Says

Russian lawmakers intend to soon approve four bills designed to regulate various aspects of cryptocurrencies, a high-ranking member of the Russian parliament announced. inzwischen, Russian companies are already using digital assets in cross-border settlements, the official noted.

Russian Legislature to Vote on Crypto Laws by End of July

The State Duma, das Unterhaus des russischen Parlaments, plans to adopt four crypto-related laws during its spring session which ends on July 30, nach Anatoly Aksakov, chairman of the parliamentary Financial Market Committee.

The bills are tailored to regulate cryptocurrency Bergbau, cross-border crypto payments, taxation of digital assets, and liability for their illegal use, the lawmaker detailed, quoted by the Interfax news agency. He emphasized that the draft laws are well thought through.

Aksakov remarked that large Russian companies are already actively using cryptocurrency in foreign trade settlements, but they want to see legislation outlining the legal framework for such transactions. Speaking at the St. Petersburg International Legal Forum, er erklärte:

Now we have come to the point where four bills are in the stage of practical adoption … It is quite possible that we will adopt all the laws in the spring session.

Anatoly Aksakov also said that the authorities want to take into account the opinions of market participants regarding tax rules. “Most likely, the norms applicable to DFAs will be taken into account as much as possible here, since this is a similar instrument,” he elaborated.

The law “On Digital Financial Assets” (DFAs), die im Januar in Kraft getreten ist 2021, covers only some crypto-related activities, in particular those that involve digital assets with an issuing entity, like tokenized traditional assets or utility tokens, for example.

Zur selben Zeit, transactions with decentralized cryptocurrencies like bitcoin are yet to be comprehensively regulated in Russia. Pressed by Western sanctions over Moscow’s invasion of Ukraine, Russian authorities have stepped up their efforts in this direction.

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Lubomir Tassev

Lubomir Tassev ist ein Journalist aus dem technisch versierten Osteuropa, dem das Zitat von Hitchens gefällt: „Schriftstellerin zu sein, das bin ich, eher als das, was ich tue.“ Neben Krypto, Blockchain und Fintech, Internationale Politik und Wirtschaft sind zwei weitere Inspirationsquellen.

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