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Working Group of Russian Experts Develops Digital Assets Classification

Published: 13/09/2018
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What is it for?

The expert team of the Russian Union of Industrialists and Entrepreneurs (RUIE) has prepared a draft law on the classification of digital assets into several categories, Gazeta.ru informs.

 

The draft law was made public at the Eastern Economic Forum. The first category of assets includes tokens, which can be treated as securities or financial derivatives.

 

Cryptocurrencies, listed in the second category, as well as their holders and traders, will have a special status. Finally, the third group encompasses the regulation of non-monetary digital assets evidencing civil-law agreements between the interested parties.

 

The authors of the draft argue that regulation in relation to market participants associated with cryptocurrencies will differ in consistency and credibility.

 

The experts' primary objective is to provide professional assistance in the sphere of digital economy for the representatives of the Russian business community, as many of them still have no idea of what it is, said Elina Sidorenko, the head of the Working Party on Cryptocurrency Issues of the State Duma.

 

Most Russians aren’t ready for an economic transition towards digital technologies and don’t understand the mechanisms. During a sociological survey, representatives of about 600 startups said that they position their organizations as “digital”, but two thirds of them even don’t understand what this technology is really about, said Sergei Mytenkov, one of the officials at the RUIE.

 

As previously reported, Sberbank of Russia announced the launch of a program to support and develop blockchain startups and other innovative organizations.

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blockchain cryptocurrency regulation Russia
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  1. ForsakenPython:
    09/14/18 at 07:31

    I think the first thing that needs to be done in russia is to enlightened people about crypto sphere as there is only about 10 percent of people who would invest for now.