The deputies of the Russian Duma approved in the third reading the law “On digital financial assets”. It will enter into force in 2021.
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The adopted law will have a big "influence" on the Russian crypto industry.
One of the main points of the adopted law for the cryptocurrency community is the de facto ban on payment for goods, services and works with cryptocurrencies. The document does not contain a prohibition on the possession of digital currencies.
According to the document, a digital asset is a right of a monetary claim or an instrument for the exercise of rights to securities.
However, the law does not apply to foreign blockchains and tokens based on them. It is worth noting that stablecoins do not fall under the definition of digital currency.
In addition to prohibiting payments with cryptocurrencies for goods and services, the law prohibits the dissemination of information about this.
According to experts, the adopted law will not contribute to the development of the crypto industry in Russia.