In line with a recent report by ‘TASS’, the Russian parliament of the State of Duma, might postpone the adoption of the country’s ‘cryptocurrency‘ bill “On Digital Financial Assets” [DFA] for some time.
The Duma is considering deferring the adoption of the DFA bill to the autumn session, whereas the representatives have mainly agreed on a bill on crowd-funding, in line with the chairman of the State Duma Committee on Financial Markets namely ‘Anatoly Aksakov’.
Aksakov additionally explained that the officials haven’t been able to reach a standard position on the future of digital assets within ‘Russia‘, saying:
“The law on the DFA is set to determine whether or not we’ll prohibit cryptocurrencies as a medium of exchange in Russian legislation, meaning that there’ll be no exchange points nor exchanges that operate with the cryptocurrencies. We’ve not yet reached to an agreement on this issue. We need to outline what cryptocurrency is at the legislative level. Then there’s a fork within the road: we either prohibit organizing infrastructure for the purchase & sale of cryptocurrencies within Russia, or just allow it.”
Initially, the country’s parliament ‘planned‘ to adopt the law at the end of June. At that time, Russia’s deputy minister of finance, named ‘Alexei Moiseev’ revealed that the authorities had approved separate legislation for ICOs [Initial Coin Offerings], that would be a part of Russia’s law on crowdfunding.
Earlier also, Russia ‘deferred‘ the adoption of cryptocurrency legislations due to the requirements from the FATF [Financial Action Task Force] in late May. The FATF then ordered Russian lawmakers to expand the ideas of the federal bill on the regulation of crypto assets, requiring that the country legislate leading business terms like cryptocurrencies and Bitcoin [BTC].