June 15, 2021

RACIB criticized the amendments of the Ministry of Finance to the law on cryptocurrency

RACIB criticized the amendments of the Ministry of Finance to the law on cryptocurrency

The Russian Association for Cryptoeconomics, Artificial Intelligence and Blockchain (RAKIB) opposes initiatives of the Ministry of Finance to amend the law on the so-called digital financial assets (DFA).

Recall that the Ministry of Finance proposes to banuse cryptocurrency when awarding miners. It simply ignores the fact that miners are rewarded in the digital currency they mine.

In addition, it is proposed to allow citizens to receive cryptocurrency only by inheritance and within the framework of the defendant's bankruptcy on the basis of a court decision. You can no longer transfer tokens.

RACIB published a statement in response to the initiative of the Ministry of Finance, in which it criticized the proposals of the department.

The association believes that it is impossible in the law oncryptosphere to make adjustments proposed by the government. The adoption of the amendments by the Ministry of Finance will paralyze transactions with digital assets and make it impossible to profit from crypto transactions. The introduction of fines of up to 100,000 rubles and even imprisonment of up to seven years will force Russians to abandon the use of cryptocurrency.

Roman Yankovsky from the Commission on Legalensuring the digital economy of the Moscow branch of the Bar Association believes that the law on CFA, together with the amendments, is prohibitive.

Efim adheres to a similar point of viewKazantsev, representing the Moscow Digital Shool team of experts. In his opinion, the package of bills on the cryptosphere will actually lead to a complete ban on any operations with tokens on the territory of our country.

He also added that the authorities make it clear to the crypto business that they are not interested in the development of this segment of the economy.

The text of the law "On digital financial assets (DFA)":

RACIB criticized the amendments of the Ministry of Finance to the law on cryptocurrency

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