The State Duma adopted in the first reading a bill banning digital assets as a means of payment

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The initiative, approved by deputies of the lower house of the Russian parliament, provides for a complete ban on the use of DFA and DRM in Russia to pay for goods and services.

Draft Federal Law No. 138674-8 “Onamendments to certain legislative acts of the Russian Federation regarding the regulation of the circulation of digital financial assets and utilitarian digital rights” was adopted by the State Duma in the first reading.

Now the draft is being prepared for the second reading and receiving amendments from all interested persons and organizations. Amendments must be sent to the Financial Market Committee no later than June 20.

InitiatorThe bill was presented by the head of the financial committee, Anatoly Aksakov. The author believes that the adoption of the law will increase the investment attractiveness of the use of digital rights by business. It will also fill a legal void that benefits criminal organizations by preventing the use of digital financial assets (DFAs) and utilitarian digital rights (DPRs) as a means of payment.

In May it became known that after the commentsrelevant committees of the State Duma, the previously proposed version of the bill “On Mining in the Russian Federation” was withdrawn for revision. The new bill no longer provides for an amnesty that exempts miners from customs clearance of equipment and payment of taxes. 

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