Russian Crypto Bill Draft Pushed Back to First Reading for Significant Edits
Russia’s draft cryptocurrency bill has been pushed back to the first reading stage, as a Duma chairman noted it has no relation to crypto or tokens.
Russia’s cryptocurrency legislation, the draft bill “On Digital Financial Assets,” has been sent back to the first reading stage for significant changes, Russian daily newspaper Kommersant reported Nov. 30.
According to Kommersant, the head of the council and chairman of the State Duma committee on state construction Pavel Krasheninnikov said that the document has no relation to cryptocurrencies or tokens, and lawyers have noted that its wording comes into conflict with the norms of Russian legislation for corporations.
The law, which is one of three projects originally designed to regulate crypto in the country, replaces all crypto- and token-related terminology with the term “digital rights,” which confuses the relationship between “digital rights” and…
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