{"id":53289,"date":"2021-11-22T13:45:05","date_gmt":"2021-11-22T11:45:05","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=53289"},"modified":"2025-09-03T14:27:24","modified_gmt":"2025-09-03T11:27:24","slug":"russia-to-introduce-liability-for-illicit-circulation-of-digital-assets","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/russia-to-introduce-liability-for-illicit-circulation-of-digital-assets\/","title":{"rendered":"Russia to Introduce Liability for Illicit Circulation of Digital Assets"},"content":{"rendered":"

The Bank of Russia proposes to introduce liability for illicit circulation of digital financial assets (DFA) and to establish a framework for taxing operations with them. The document, published on the regulator’s website, says<\/a>.<\/p>\n

The new laws are intended to create a comprehensive framework for regulating digital financial assets and utilitarian digital rights.<\/p>\n

\n

\u201cAt the legislative level, a regime for taxing operations with utilitarian digital rights and digital financial assets will be established, and liability for illegal circulation of DFAs will be introduced,\u201d the document says.<\/p>\n<\/blockquote>\n

The Bank of Russia noted that it continues to develop the digital ruble, and this will also require amendments to a number of statutes.<\/p>\n

In addition, the Bank of Russia plans to strengthen the involvement of depositories in servicing digital assets and digital rights by issuing them corresponding receipts.<\/p>\n

\n

\u201cFor the central depository, issuing such receipts is proposed to be mandatory upon its receiving a corresponding request from holders of digital assets and digital rights,\u201d the central bank noted.<\/p>\n<\/blockquote>\n

As noted, since 1 January 2021 the Law on Digital Financial Assets<\/a> has been in force in Russia. DFAs are digital rights the issuance, accounting and circulation of which are possible only through entries in an information system based on a distributed ledger.<\/p>\n

To issue DFAs, information about the issuer, data about the information-system operator, the type and scope of the rights secured by the assets, data on the issue and other information must be provided.<\/p>\n

The Bank of Russia has set a limit on DFA purchases by individuals<\/a>, who are not qualified investors, at 600,000 rubles within one year.<\/p>\n

The limit does not apply to non-qualified investors that are legal entities.<\/p>\n

Additionally, non-qualified investors cannot acquire DFAs issued in foreign information systems that confer rights to issue securities, nor if the issuance decision does not specify the term of obligations.<\/p>\n

Read ForkLog’s bitcoin news in our Telegram<\/a> \u2014 cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Bank of Russia proposes to introduce liability for illicit circulation of digital financial assets (DFA) and to establish a framework for taxing operations with them.<\/p>\n","protected":false},"author":1,"featured_media":53290,"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":[1282,345,36,558],"class_list":["post-53289","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-asset-tokenization","tag-bank-of-russia","tag-regulation","tag-taxes"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/53289","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=53289"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/53289\/revisions"}],"predecessor-version":[{"id":53291,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/53289\/revisions\/53291"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/53290"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=53289"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=53289"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=53289"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}