Amendments to the law on digital assets are an attempt to legalize mining as a business, and such a desire can only be welcomed. But at the same time, for some reason, new prohibitions and restrictions are introduced.
In particular, only the mining process is described. If a cryptocurrency is created, for example, according to the PoS algorithm, then, in fact, its circulation is proposed to be banned (hello to Ethereum).
The creation of a digital currency in the Russian Federation refers to the use of equipment in the Russian Federation. Okay, what if foreign equipment took part in the Russian pool? Or did a Russian miner send balls from the Russian Federation in a foreign pool when creating a block? How would you like to understand this?
But these are still flowers. In the 14th article of the Federal Law 259 “On Digital Financial Assets”, it is proposed to introduce the eighth paragraph of a ban on advertising and circulation of digital currencies, as well as goods, works and services in order to organize the issuance and circulation of digital currencies, if it is not about mining.
In fact, this paragraph prohibits everything that is not related to mining in the cryptosphere (hello, green agenda). If the project in this form is accepted, then we are on Bits. media, according to the law, we will not be able to talk about a new airdrop or the launch of a new crypto project from the launchpad. Half of the articles and tools from the site will have to be removed. Russian exchangers and exchanges will also be banned, as they offer an unlimited number of people the organization of the circulation of digital currencies.
Also, questions are raised by some wordings and definitions such as “information about a unique sequence of characters used to account for transactions with digital currency”
It is good that we are trying to prescribe norms that will allow us to legalize what, in fact, has been successfully existing for a long time, gives people jobs, brings income and investments to the country.
It is bad that at the same time, for some reason, they want to ban more than legalize. The introduction of clause 8 in Article 14 of FZ-259 from this bill, I would remove completely – as wrecking the country’s economy. The rest can still be thought about and improved. Moreover, many important issues related to the same mining are not covered in any way in the text of the bill.
Source: Bits
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