Russian President Vladimir Putin signed the law “On Digital Financial Assets (DFA)”, regulating the circulation of cryptocurrencies within the country. It will take effect on January 1, 2021.<\/p>\n
The law defines a digital asset (tokens and stablecoins) as a right to monetary claim or an instrument for exercising rights in relation to securities.<\/p>\n
A digital currency (for example, Bitcoin) in the context of the document is defined as a set of electronic data that may be accepted as a means of payment, not a monetary unit of the Russian Federation or of a foreign state, and also as an investment.<\/p>\n
Cryptocurrencies are recognised as property. The law forbids using them to pay for goods and services within the Russian Federation.<\/p>\n
Experts have already warned that this will slow the development of the cryptocurrency industry.<\/p>\n
Earlier, the State Duma adopted the DFA law on July 22. On July 24, it was supported by the Federation Council.<\/p>\n
Earlier, ForkLog reported that representatives of the cryptocurrency industry intend to discuss consequences<\/a> of the DFA law for the industry.<\/p>\n Subscribe to ForkLog news on Telegram: ForkLog Feed<\/a> \u2014 full feed of news, ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":" President Vladimir Putin signed the law ‘On Digital Financial Assets (DFA), regulating the circulation of cryptocurrencies within the country. It will take effect on January 1, 2021.’<\/p>\n","protected":false},"author":1,"featured_media":26719,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1451],"class_list":["post-26718","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-regulation-in-russia"],"aioseo_notices":[],"amp_enabled":true,"views":"34","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/26718","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=26718"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/26718\/revisions"}],"predecessor-version":[{"id":26720,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/26718\/revisions\/26720"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/26719"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=26718"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=26718"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=26718"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}