July 22, 2024

Bitcoin was first introduced into the authorized capital of a Russian company

Digital currency was first introduced into the authorized capital of a Russian company.

As the mainowner and CEO of LLC Artel MikhailOuspensky, an investor was included in the founders of the company, who contributed virtual currency to the charter capital. The investor invested 0.1 bitcoin, which amounted to approximately 60 thousand rubles. at the time of the transaction, in exchange for 5% in the project.

According to Mikhail Uspensky, at first the Federal Tax Service refused to register the changes, then additional legal work was carried out:

“We have drawn up the act of receiving and transmitting the username and password from the electronic wallet, and the entire set of documents was again notarized. Re-filed the tax, this time successfully. "

Mr. Ouspensky noted that this exampleclearly shows that financing in cryptocurrency is fully consistent with the letter and spirit of Russian law “and is accessible to any entrepreneur”. The new investor, Stanislav Boyko, confirmed to Kommersant that he had contributed part of bitcoin to the capital of LLC.

As follows from the extract from the register, stateregistration of changes occurred on November 8. Kommersant got acquainted with the decision of the sole member of Artel LLC to increase the authorized capital by depositing bitcoin certified by a notary, as well as the act of receiving and transmitting the username and password of the electronic wallet. The Federal Tax Service did not respond to a request from Kommersant.

Managing Partner Veta Ilya Zharsky explainedthat the company first conducted an assessment of the value of an electronic wallet with cryptocurrency. For this, together with a self-regulatory organization of appraisers (SRO), the Expert Council developed methodological recommendations. They are published on the SRO website. From the point of view of calculating the value, cryptocurrency valuation is a fairly simple task, Mr. Zharsky notes, the main difficulties are the lack of a legal framework - what kind of object it is and what rights it has.

According to a senior lawyer at Versus.legal Sergey Kovalkov, there were no other similar cases in the Russian Federation, but in 2015 45 bitcoins were contributed to the authorized capital of an Italian company in Tuscany, the completion of the transaction was confirmed by an auditor and tax law expert, as well as Bitcoin enthusiast Stefano Capaccioli. The lawyer added that Italian legislation, as well as Russian, is formulated quite broadly: any assets to be valued can be included in the authorized capital.

According to Mr. Kovalkov, although the legislation of the Russian Federation does not directly indicate that bitcoin can be included in the authorized capital of a company, there is no ban:

“The law is formulated in such a way that allows Bitcoin to be recognized as a property right that has a monetary value.”

The possibility of introducing cryptocurrency into the authorized capital actually recognizes it as a property right, believes Alexander Zhuravlev, managing partner of the EDB:

“Now it will be possible not only to buy, sell or change cryptocurrency, but also use it as a tool for investing in business.”

However, so far this action only looks likeexperiment. Tokenomica founder and CEO Artem Tolkachev believes that the introduction of cryptocurrencies in the authorized capital will not give Bitcoin legal status in Russia.

“The Federal Tax Service in this case plays the role of an extras,the service does not evaluate whether it is correct or incorrect to contribute cryptocurrency to the authorized capital, I can equally well contribute my reputation to the capital if I have an official assessment of its value, ”he notes.

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