Regulation | Russian Deputy Prime Minister says no to any Changes in Crypto Legislation Bill

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The Deputy Prime Minister of Russia recently announced that the regulators of the country’s draft crypto legislation are not planning to make any changes to the bill.

Maxim Akimov’s statement was reported by Finmarket, the Russian information agency which is specialized on the commodity and financial markets. Back in May of this year, Russia’s parliament approved the bill on digital financial assets and since its first reading, it led to a lot of discussion in the Russian legal discourse.

At the time, all the crypto and token-related terms were replaced with the word ‘digital rights’ also, the definition of cryptocurrency mining had been cut out from the bill.

From the Chairman’s Desk

Earlier this month, Pavel Krasheninnikov, the chairman of the State Duma committee and the head of the council said that bill had pushed back to the initial reading stage because it needed to be amended. However, the Deputy PM announced this week that there would not be any changes to the bill.

According to the Finmarket report, Maxim also noted that they are having discussions with some of the interested parties but said that they adhere to the position that has been worked out at the site of the Finance Committee and the Civil Law Committee of the State Duma.

The Deputy PM while speaking about the possibility of building stablecoin-related legislation, said that this form of regulation will be matching the standard mechanisms for raising the funds.

He also added that this is not the case for which all the civil law must be changed. And these tools should be entered into the existing civil regulation carefully.

Earlier in November, the chairman of Russia’s State Duma Committee, Anatoly Aksakov said that the proposed state-backed stablecoin ‘crypto ruble’ will be the same ruble in encrypted form.

Do you really think the draft bill of Russia should not be amended? Let us know ur views in the comments.


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