Opinions

Russian Crypto Bill Moved Back to Reading Stage

“On Digital Financial Assets”, the Russian cryptocurrency draft bill, has been reportedly sent back to reading stage, reported local media outlet Kommersant.

Kommersant also reported that Pavel Krasheninnikov, head of the council and chairman of the State Duma’s committee on state construction also said that this draft may be ‘significantly changed’.

He also clarified that cause of this rolling back of document were legal shortcomings of claims by lawyers that have no direct connection with cryptocurrencies and tokens.

‘On Digital Financial Assets’ is one of the triad of documents that are the legislation precedent on cryptocurrency and token regulation. The other two are namely “On Crowd Funding” and “On Digital Rights”.

The draft legislation was first introduced in January with President Vladimir Putin’s directive. The bill was approved by the State Duma in May.

To the scrutiny authority, one of the main issues with the document was its proposal of new versions of the laws on joint-stock companies and limited liability companies.

“Considering the enormous amount and number of other changes and additions made to these laws the presidential council proposes to re-publish their text in a new edition”

In light of these clashes, the document was decided to be sent back to the first step; reading.

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Sarim Mehmood

An electrical engineer to be. Sarim is a blockchain & crypto enthusiast and an early investor in ETH and Ethereum based projects. Email: sarim@blockpublisher.com or contact the editor at editor.opinions@blockpublisher.com

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