May 3, 2024

The Central Bank of the Russian Federation called for the adoption of a new bill on digital currencies as soon as possible

The Russian Central Bank separately highlighted the bill «On Digital Currency» among other legislativeinitiatives to regulate cryptocurrencies. First Deputy Chairman of the Central Bank Olga Skorobogatova stated the need to consider this document as soon as possible, Interfax reports.

«To the Law «On DFA», which is important,Attached is the Digital Currency Bill. With the bill that has now been presented, we will regulate the operations that can be carried out and those that are prohibited. Therefore, it needs to be adopted as quickly as possible to eliminate legal uncertainty», —she said during a meeting of the working group of the State Duma Committee on the Financial Market.

Committee Chairman Anatoly Aksakov noted that the new bill «gives a real definition of cryptocurrency in the Russian legal space».

«It is a currency that is used as a means of payment and as a store of value», —he stated.

Note that in the draft law, digital currencies are qualified as property.

Aksakov once again emphasized that the organization of the issue and circulation of cryptocurrencies will be banned, but their purchase using foreign platforms is not prohibited.

«On the territory of the Russian Federation, sites and exchanges that allow the acquisition of these crypto-instruments within the framework of the Russian legal space cannot function», —he stated.

Earlier, Aksakov said that the idea to limit the use of cryptocurrencies in the Russian Federation belongs primarily to the Bank of Russia.

Recall, the Ministry of Economic Development sentseveral new cryptocurrency regulation bills. They involve the introduction of administrative and criminal liability for violation of the rules of working with digital currencies.

Experts believe that the draft laws in the current edition will kill the rudiments of the legal market, and some of their provisions are contrary to the Constitution of the Russian Federation.