{"id":69686,"date":"2022-11-07T18:15:41","date_gmt":"2022-11-07T16:15:41","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=69686"},"modified":"2025-09-07T21:35:08","modified_gmt":"2025-09-07T18:35:08","slug":"russia-to-discuss-use-of-digital-financial-assets-on-exchange-trading","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/russia-to-discuss-use-of-digital-financial-assets-on-exchange-trading\/","title":{"rendered":"Russia to discuss use of digital financial assets on exchange trading"},"content":{"rendered":"<p>The Bank of Russia <a href=\\\"http:\/\/www.cbr.ru\/press\/event\/?id=14281\\\">proposed<\/a> that the public discuss the further development of the digital financial asset market in the country.<\/p>\n<p>The regulator prepared a <a href=\\\"http:\/\/www.cbr.ru\/Content\/Document\/File\/141991\/Consultation_Paper_07112022.pdf\\\">document<\/a>, through which it plans to study:<\/p>\n<ul class=\\\"wp-block-list\\\">\n<li>the possibility of trading DFAs on exchange venues;<\/li>\n<li>harmonisation of tax treatment of DFAs with traditional financial instruments;<\/li>\n<li>the conditions for acquiring DFAs by institutional investors and the accounting treatment of such investments;<\/li>\n<li>opening the domestic market to foreign issuers from friendly countries.<\/li>\n<\/ul>\n<p>The Bank noted that the main advantages of DFAs are automated trades through the use of smart contracts, improved information storage, increased efficiency of business processes, and reduced costs.<\/p>\n<p>Better regulation will help develop the digital-asset infrastructure and boost its attractiveness for issuers and investors, the regulator said.<\/p>\n<p>The Bank of Russia is accepting comments and proposals on the document until 7 December.<\/p>\n<p>As a reminder, the DFA law was adopted in 2020 and took effect on 1 January 2021.<\/p>\n<p>In June the State Duma of the Russian Federation defined <a href=\"https:\/\/u1f987.com\/en\/news\/state-duma-approves-law-taxing-digital-financial-assets\">the tax treatment of transactions<\/a> with DFAs, and a month later <a href=\"https:\/\/u1f987.com\/en\/news\/russia-bans-payments-in-digital-financial-assets\">banned payments for goods and services<\/a> using DFAs and utilitarian digital rights.<\/p>\n<p>At the end of September, the Moscow Exchange sent to the Bank of Russia and the Ministry of Finance a bill<a href=\"https:\/\/u1f987.com\/en\/news\/moscow-exchange-plans-to-issue-receipts-on-digital-financial-assets\"> on the issuance of CFA receipts<\/a>.<\/p>\n<p>In October, the head of the State Duma Committee on the Financial Market, Anatoly Aksakov, called the EU&#8217;s cryptocurrency sanctions <a href=\"https:\/\/u1f987.com\/en\/news\/russia-says-eu-crypto-sanctions-will-spur-dfa-development\">an impetus for the development of digital assets in Russia<\/a>.<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news on our <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Telegram<\/a> \u2014 cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Bank of Russia proposed that the public discuss the further development of the digital financial asset market in the country.<\/p>\n","protected":false},"author":1,"featured_media":69687,"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":[1282,345,1451],"class_list":["post-69686","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-asset-tokenization","tag-bank-of-russia","tag-bitcoin-regulation-in-russia"],"aioseo_notices":[],"amp_enabled":true,"views":"7","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/69686","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=69686"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/69686\/revisions"}],"predecessor-version":[{"id":69688,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/69686\/revisions\/69688"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/69687"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=69686"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=69686"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=69686"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}