The State Duma of Russia adopted on July 22 in the final, third reading the law . It took more than two years for parliamentarians to discuss and finalize the draft law with the involvement of experts, representatives of the Central Bank of the Russian Federation, the FSB and relevant ministries.
This law defines the concepts of "digital currency" and "digital financial assets" (DFA). According to the law, digital currency is βa set of electronic data (digital code or designation) contained in the information system that are offered and (or) can be accepted as a means of payment that is not the monetary unit of the Russian Federation, the monetary unit of a foreign state and (or) international currency or unit of account, and (or) as an investment and in respect of which there is no person liable to each owner of such electronic data.
Importantly, the law prohibits Russian residents from accepting digital currency as payment for the supply of goods, work, and services. It is also prohibited to disseminate information about the sale or purchase of digital currency as payment for goods, works and services. At the same time, it will be possible to buy digital currency in Russia, βmineβ (clause 2 of Article 14), sell and make other transactions with it.
The main difference between CFA and digital currencies is that in relation to CFA there is always an obligated person, CFA are digital rights, including monetary claims, the possibility of exercising rights on equity securities, the right to participate in the capital of a non-public JSC, as well as the right to demand the transfer of equity securities, which are provided for by the decision on the issue of the CFA.
The new law will come into force on January 1 2021.
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Source: 3dnews.ru