For the first time in Russia, a contribution to the authorized capital of a company in Bitcoin has been approved

The founder of one of the Russian companies contributed 0.1 BTC to the authorized capital, proving one importantmoment.

A significant event took place in Russia:According to media reports, the founder of one of the commercial organizations, opened in the form of an LLC, received approval from the Federal Tax Service (FTS) to make a contribution to the authorized capital of 0.1 Bitcoin (BTC).

Under the law, such a contribution can be made eithermoney, or property (including intangible assets), which in the latter case need to be evaluated. The fact that to assess the contribution in the form of a share in bitcoin required to use the service of a third-party organization, seems to be a routine procedure in this case. Thus, de facto, at least in one case, it became clear that the country's authorities are ready to consider bitcoin as property.

By the way, the courts of Russia have already considered casesrelated to the division of jointly acquired property between former spouses, when savings in bitcoins were involved. The main difficulties in such processes arise due to the peculiarities of the functioning of the cryptocurrency itself.

It may be noted that the absence of directregulation of cryptocurrencies, and Bitcoin in particular, in Russia leads to the fact that courts can sometimes use business customs. Or, as an option, an analogy of the law when making a decision in which a conclusion needs to be made regarding such digital assets, but may not apply them.

Although the precedent rule does not apply in Russia,the issuance by the courts of decisions in which cryptocurrencies are de facto considered as “other property” means that the cryptocurrency phenomenon becomes so important that it cannot be ignored. At the same time, the recent case of the introduction of bitcoin in the authorized capital can be considered as a big step towards the cryptocurrencies of the country.

At the same time, this once again reminded us ofthe need for Russian legislators to work out amendments to all laws, and not just adopt a separate law on digital assets, the consideration of which has so far been stuck in the State Duma.

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