On Thursday, September 14, Forklog reported that a lobby group of the Russian Union of Industrialists and Entrepreneurs (RSPP) is proceeding on an alternative bill on digital assets.
The vice president of RSPP, Elina Sidorenko stated, that the new billing option will separate digital assets in three different categories: Cryptocurrencies, digital “signs”, and tokens that are equal to securities. She also explained, that the cryptocurrencies will be treated in another way:
“Cryptocurrencies will have a special status, which has never appeared in Russian legislation before, and will be regulated on the basis of laws and regulations that will be issued by the Russian Central Bank. The Central Bank will issue licenses for exchange operations. In this regard, the status of crypto owners will be notably facilitated in comparison to securities owners.”
According to Sidorenko, the tokens will follow the law of securities, and the “digital signs” – without further explanation of the legal meaning of the “signs”, will not need to be licensed from the central bank.
Behind the development project is a group of well-known Russian businessmen, suchs as the head of the Russian innovation fund Skolkovo, Viktor Vekselberg, and Vladimir Potanin, the owner of Nornickel, a palladium and nickel mining company. Both of them are listed in the top ten richest business persons of Russia by Forbes.
The lobby group of the crypto bill project includes numerous experts of Russian departments and ministries, as well as the State of Duma, which is the lower institution of the Federal Assembly of Russia.
The bill on digital assets was first accepted by the State Duma in May 2018.
In order to have a fully approval from the Russian officials, the new bill have to be first approved from RSPP’s side. The further discussions will be held on the upcoming month.
Author: Sarah Tuuli