The Ministry of Economic Development has prepared a bill to test new digital technologies in eight industries.Participants in the experiment will be exempted from certain legal norms.
In Russia, they will create "regulatory sandboxes" inwithin which blockchain and cryptocurrencies will be legalized. The corresponding bill was submitted to the State Duma by the Ministry of Economic Development. The document secured eight industries: medicine, transport, distance education, trade, the financial market, construction, industry, and public services. A specific list of rules from which residents of experimental legal regimes (EPR) will be exempted is listed in the bill - "satellite", write "Izvestia".
Minek said that the participants in the experiment,who will work with blockchain and cryptocurrencies will be exempted from mandatory requirements for financial institutions in terms of the minimum amount of established capital, reservation of funds and reporting to the Central Bank. For residents of the “sandboxes”, the standards for the maximum risk per one borrower may be canceled. The document says that EPR participants will have the right not to follow the legislation on foreign exchange transactions between residents and non-residents.
The “sandboxes” will be regulated by the Bank of Russia. Earlier, his representative said that the draft law “On Digital Financial Assets” will indicate a ban on the issuance and organization of cryptocurrency circulation. According to the director of the legal department of the Central Bank Alexei Guznov, the legalization of the issue of digital assets is associated with unjustified risk.
Two years ago, Belarus introduced Decree No. 8 “Ondigital economy development. ” As a result, cryptocurrencies were introduced into the legal field. At the end of February, we went to Minsk and found out why the crypto industry has been actively developing in Belarus since 2017, and in Russia it is still in the “gray zone”.
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