Deputies of the State Duma of the Russian Federation adopted in the third, final, reading a law banning payment for goods and services with digital financial assets and utilitarian digital rights.
The initiator of the bill is the head of the State Duma Committee on the financial market, Anatoly Aksakov, who submitted the document to parliament in June. The chairman of the committee believes that the adoption of the law will fill the legal void that is beneficial to criminal structures and prevent the use of digital financial assets (DFA) and utilitarian digital rights (DPR) as a means of payment. Thus, in just one month, the bill passed all the approvals and received the status of a federal law.
The law classifies electronic platform operators as subjects of the national payment system, which must be registered in the register of the Bank of Russia. Token issuers and investment platform operators are instructed to make it impossible for users to independently enter or change records of DFA and DSM when making transactions.
Exchange operators are obligated to refuse transactions where there are risks of using DFA and DSM as a money surrogate:
“It is prohibited to accept DFA as a means of payment or other consideration for transferred goods, performed works, rendered services, as well as in any other way that allows one to assume payment by a digital financial asset for goods, works, services.”
The prohibition may be lifted in cases where the counter provision is a transferable thing (goods, exclusive rights, work or service provided), the right to demand the transfer of which arose initially.
The law will enter into force after approval by the Federation Council and the President of the country.
In June, the head of the State Duma committee on the financial market, Anatoly Aksakov, introduced a bill to the lower house of parliament to punish the issuance of digital assets without the permission of the regulator. The bill establishes administrative liability in the form of fines.
Source: Bits
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