Copy link
Increase text size
Decrease text size
Link copied

Russian President Vladimir Putin signs cryptocurrency bill into law

Russia's new cryptocurrency law will take into effect starting January 1, 2021.

Image by: Global Panorama / Flickr

Mon, 03 Aug 2020, 06:30 am UTC

The days of regulatory uncertainty for Russia’s cryptocurrency industry will soon be over. Russian President Vladimir Putin just signed into law that will legalize digital currencies in the country, properly define them, and regulate their use.

On Friday, July 31, President Putin signed into law a bill that will regulate digital financial asset (DFA) transactions, according to Bitcoin.com. The law will give legal status to cryptocurrency as a type of property but will not allow its use as a means of payment.

The new law states that digital currency “is recognized as an aggregate of electronic data capable of being accepted as the payment means, not being the monetary unit of the Russian Federation or a foreign state, and as investments,” as reported by the local news agency TASS. The publication added that “digital currency cannot be used at the same time to pay for any goods and services.”

While cryptocurrency can’t be used as payment, it can be purchased, sold, pledged, and exchanged. The new law states that digital financial assets “are digital rights comprising money claims, ability to exercise rights under negotiable securities, rights to participate in equity of a non-public stock company and right to claim transfer of negotiable securities set in a resolution on the DFA issue.”

Banks and crypto exchanges need to be registered with the Russian central bank if they want to act as exchange operations of digital currencies. “The central bank is vested with the authority to maintain the register of information systems and the register of operators of digital financial assets exchange and supervise the business of information system operators,” TASS noted.

However, the current law did not include some of the commonly used cryptocurrency-related terms such as “mining” and “token.” However, the head of the State Duma Committee on Financial Market Anatoly Aksakov revealed that a more detailed crypto regulation will be tackled in another bill.

The bill on digital financial assets transactions was already approved by the State Duma on July 22, FinanceMagnates reported. The new law will take effect on January 1, 2021.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Chilton
  • 2020.08.08 21:33:58
DO YOU NEED A PROFESSIONAL HACKER? DO YOU WANT TO RECOVER YOUR BITCOINS FROM A BROKER SCAM?

Take your time to read carefully. You will definitely need us!

DO YOU KNOW that there are thousands of "Request Tickets" sent every single day to support teams on bitcoin trading platforms? For example; COINBASE, BLOCKCHAIN, PAXFUL, REMITANO, LUNO, HITBTC, BINANCE, LOCALBITCOINS, KPAKEN, BITFINEX and so many more!
Now how do you expect them to answer you in few minutes and solve your problems 100%?!
How long will you wait?

Today's support team on different bitcoin trading platforms are not completely reliable as you will be told to hold on and you will be attended to probably after a month because there are thousands of customers to attend to.


On different platforms of bitcoin trading, a team of professional hackers came together on contract to provide swift help to Bitcoin traders having any issues with their accounts which were not attended to by their Support Team on their trading platform.


The purpose of this team is to manage customer queries by using the RIGHT TOOLS we need to delight our customers without compromising on quality in order not to make customers feel challenged to gain our assistance!

Our team support doesn't stop at asking mere questions. They take your feedback, mix it with some crypto insights and turn it into a better experience for our users every single day!

LOST ID OR PASSWORD
SMARTPHONE HACKING
DELETED MESSAGES
CLEARING OF CRIMINAL RECORDS
LOST EMAIL ACCOUNTS
LOST FACEBOOK ACCOUNTS
HACKED ACCOUNT RECOVERY
STOLEN BITCOINS
PHISHING OF BITCOIN ACCOUNT
LOGIN ERRORS
SCAM DURING BITCOIN TRADINGS

And any other issue can be resolved by us without stress. Chat with us. Thousands of customer issues are resolved within minutes every day!

For the fastest resolution to all issues, please contact our Support Center prior to submitting a request.

To assist us in resolving your issue as quickly as possible, please provide specific information such as digital currency addresses, payment codes, or the exact error message displayed!

Contact our support team for further assistance:
[email protected]
[email protected]
303 Second St., Suite 900 South Tower,
San Francisco, CA 94107
  • 0
  • ·
  • 0
  • Chilton
  • 2020.08.08 21:33:48
CAN YOU STOP SCROLLING NOW?

????I KNOW YOU SEEK ????LEGIT PROFESSIONAL HACKERS???????? ONLINE FOR HIRE!!

⚡STOP ????THE RISK OF GETTING SCAMMED BY ENGAGING WITH ONE OF THE WORLD'S MOST TRUSTED COMMUNITY OF HACKERS ONLINE!! We are fast⚡, reliable, accurate???? and more precise!

????Do you know you can fall easily for a scammer who claim to be a hacker online? Why take that risk when you can talk to an escrow that can direct you to real and legit professional hackers that get your jobs done at the right time⏰

✔The purpose of our team is to manage your queries without compromising on quality in order not to make you feel challenged to gain our assistance!

✔Our team doesn't stop at asking you mere questions. We take your feedbacks, and work on every detailed complaints you may have!

Be it:

☢FUNDS RECOVERY ON SCAM INVESTMENTS, BINARY OPTIONS TRADING ????????
☣ WEBSITE AND DATABASE HACKING ????
☣️ CREDIT REPAIR ????
☣️ PHONE HACKING & CLONING (HAVING FULL ACCESS TO THE PHONE) ????

☣CLEARING YOUR CRIMINAL RECORDS ♻
☣️ SOCIAL MEDIA ACCOUNTS HACKING
☣RECOVERY OF DELETED FILES ♻
☣️LOCATION TRACKING ????
☣BITCOIN MINING ⛏
☢LOST ID OR PASSWORD????
☢LOST EMAIL ACCOUNTS????
☢STOLEN BITCOINS????
☢LOGIN ERROR

And any other issue can be resolved by us without stress. Chat with us. The amazing thing is that clients' issues are resolved within hours every single day! TRY US TODAY! WE PROVE OURSELVES BEYOND EVERY DOUBTS.

For the fastest resolution to any issue, please contact our Support Center prior to submitting a request. You can remain anonymous for risk reasons.

[email protected]
  • 0
  • ·
  • 0
More
  • Bitcoin (BTC) $10,662.70 (-0.53%)
  • Ethereum (ETH) $350.31 (-0.22%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $218.41 (+1.36%)
  • Binance Coin (BNB) $26.12 (+3.12%)
  • Bitcoin (BTC) $10,662.70 (-0.53%)
Feb 21, 2020 (Friday)
12:01
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
12:00
Brazil to launch new payment system in response to cryptocurrencies
11:59
Digital currency exchange Coinbase Pro lists Kyber Network token
11:57
Norwegian Air to soon start accepting crypto payments
10:21
Swedish central bank begins CBDC pilot with Accenture
09:51
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
14:16
Telecom companies complete cross-carrier mobile payments using blockchain
11:53
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
11:00
South Korean ICO project discontinued, to return $7.5M to token holders
10:36
Samsung maintains crypto support in soon-to-launch Galaxy S20
09:41
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
09:15
Coinbase becomes first crypto company to receive Visa principal membership
08:59
Dubai Economy and six banks launch KYC Blockchain Consortium
08:26
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
07:12
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
06:13
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
05:02
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
04:56
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
04:35
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
12:46
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft