April 1, 2023

Aksakov: Russian citizens will not be able to issue digital tokens

The issues of organizing the issue and circulation of cryptocurrencies will be regulated by a separate law or amendments Anatoly Aksakov, head of the State Duma Committee on the Financial Market, said in a document on digital financial assets and digital currency.

Aksakov noted that regulation in the field of "digital tools" will entail the introduction of rules on liability for default:

"CFA (financial tokens) can be issued from 1January 2021, utilitarian digital rights - today. Given that the issuance of digital rights is a type of entrepreneurial activity, citizens will not be entitled to issue digital rights (only invest in them). "

As the CEO of Moscow Digital School Dmitry Zakharov explained, utilitarian digital rights are a digital token that allows you to demand goods or services from commercial organizations.

For example, a company creates a new product, but onits development and production requires a lot of money. Then she can attract funding by issuing utilitarian digital rights, which will then allow purchasing this product for one token. Let's say its price is $ 1000, and the token can be bought for only $ 300. By buying a token for $ 300, you save $ 700 on purchasing a product. These are utilitarian digital rights. Zakharov explained:

“By purchasing this token, you do not receive a share in the profitfrom the product, you do not make money on it, but can only demand the provision of the appropriate service to you. This is a key difference from security tokens, which are essentially analogous to shares. "