follow us on twitter . like us on facebook . follow us on instagram . subscribe to our youtube channel . announcements on telegram channel . ask urgent question ONLY . Subscribe to our reddit . Altcoins Talks Shop Shop


This is an Ad. Advertised sites are not endorsement by our Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise Here

Author Topic: Russian Crypto Bill Draft Pushed Back to First Reading for Significant Edits  (Read 931 times)

Offline Leonardo

  • Legendary
  • *
  • Activity: 1414
  • points:
    9088
  • Karma: 62
  • HEX: Longer pays better
  • Trade Count: (0)
  • Referrals: 1
  • Last Active: May 23, 2023, 06:18:32 PM
    • View Profile

  • Total Badges: 23
    Badges: (View All)
    Fifth year Anniversary Fourth year Anniversary 10 Posts


Russia’s cryptocurrency legislation, the draft bill “On Digital Financial Assets,” has been sent back to the first reading stage for significant changes, Russian daily newspaper Kommersant reported Nov. 30.

According to Kommersant, the head of the council and chairman of the State Duma committee on state building Pavel Krasheninnikov said that the document has no relation to cryptocurrencies or tokens, and lawyers have noted that its wording comes into conflict with the norms of Russian legislation for corporations.

The law, which is one of three projects originally designed to regulate crypto in the country, replaces all crypto- and token-related terminology with the term “digital rights,” which confuses the relationship between “digital rights” and “digital financial assets.” In October, the definition of crypto mining had also been removed from the bill.

The draft legislation had first been introduced in January at President Vladimir Putin’s behest, with the bill approved by the State Duma in the first of three readings in May.

A Cointelegraph analysis in September reported that many experts considered the legislation to be a “disappointment,” as the three bills were prepared independently of each other and fall behind crypto regulation in surrounding countries.

Olga Pleshanova, the head of research and development at law firm Infralex, told Kommersant that lawyers believe the bill in current form will bring the Russian economy back to the 1990s, including the preponderance of financial pyramid schemes.

Towards the end of October, the new draft of the bill added that owners of privately held companies can create and sell so-called “digital financial assets (DFA)” that act as digitized equity for the company.

In regards to the conflict with Russian corporate legislation, Kommersant notes that lawyers were concerned that the simplification of shares in limited liability companies (LLC) in digital form will mix legal entities by turning them into “kind of pre-existing ‘closed’ (now ‘non-public’) joint-stock companies.”

Also in October, a lobby group of the Russian Union of Industrialists and Entrepreneurs (RSPP) sent its proposals for crypto regulation to the country’s prime minister Dmitry Medvedev, asking to postpone hearings for the bill until 2019 to ensure the bill is more favorable to both entrepreneurs and regulators.

Source: https://cointelegraph.com/news/russian-crypto-bill-draft-pushed-back-to-first-reading-for-significant-edits

        ████████████████████
       ██████████████████████
      ████████████████████████
     ██████████████████████████
    ████████████████████████████
   ████               ▀██████████
  ████  ██████████████  ██████████
████  ████████████████  ██████████▄
████  ██████████████████  █████████▀
██  ████████████████████  ███████
    ███          █████████  █████
   ███  ███████   ███████  █████
       █████████   █████  █████
      ███████████   ███  █████
       █████████   ███  █████
        ███████   ███  █████



















Powered by,

Altcoins Talks - Cryptocurrency Forum


This is an Ad. Advertised sites are not endorsement by our Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise Here


 

ETH & ERC20 Tokens Donations: 0x2143F7146F0AadC0F9d85ea98F23273Da0e002Ab
BNB & BEP20 Tokens Donations: 0xcbDAB774B5659cB905d4db5487F9e2057b96147F
BTC Donations: bc1qjf99wr3dz9jn9fr43q28x0r50zeyxewcq8swng
BTC Tips for Moderators: 1Pz1S3d4Aiq7QE4m3MmuoUPEvKaAYbZRoG
Powered by SMFPacks Social Login Mod