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The head of the Russian parliamentary committee on financial markets and the country\u2019s first crypto law\u2019s author is forecasting a \u201csurge in token issuance\u201d for 2021 in the wake of the promulgation expected to take place in January.<\/strong><\/p>\n According to the Parliamentary Gazette<\/a>, Anatoly Aksakov claimed that a \u201cbig number of large enterprises\u201d had asked the State Duma (Russian Parliament) to pass the law as soon as possible. Also, he adds that such businesses plan to issue stablecoins.<\/p>\n The crypto law, \u201cOn Digital Financial Assets,\u201d is expected to be promulgated on January 1, 2021. Moreover, the report suggests that companies showing interest in crypto regulation are related to the financial sector. Many of them are also in the exploitation of minerals, who are looking to tokenize their processes.<\/p>\n But the lawmaker didn\u2019t only talk about the general status of the crypto law, as he referred to the digital ruble, stating that many parliamentarians are still discussing topics related to such digital asset:<\/p>\n From my point of view, digital ruble is one of the future forms of our ruble, and it should contribute to the development of the financial assets market.<\/p>\n<\/blockquote>\n <\/ins> <\/ins> <\/p>\n On July 31, 2020, Russian President Vladimir Putin signed<\/a> the \u201ccrypto bill\u201d approved by the State Duma, the lower house of the Russian parliament, on July 22 and by the Federation Council on July 24.<\/p>\n As news.Bitcoin.com reported, the law grants a definition to the digital currency, stating that \u201cit is recognized as an aggregate of electronic data capable of being accepted as the payment means, not being the monetary unit of the Russian Federation or a foreign state, and as investments.\u201d<\/p>\n However, it adds that cryptocurrencies \u201ccannot be used simultaneously to pay for any good and services.\u201d<\/p>\n Also, on November 13, 2020, the Russian Ministry of Finance announced<\/a> new amendments to the country\u2019s cryptocurrency regulation, outlining a new set of rules for cryptocurrency owners, exchanges, and miners.<\/p>\n What do you think about the opinion of the nonprofit organization? Let us know in the comments section below.<\/strong><\/em><\/p>\n The post Russian Parliament Foresees a Wave of Token Issuance for 2021 in the Wake of Crypto Law Promulgation<\/a> appeared first on Bitcoin News<\/a>.<\/p>\nRussian Parliament Expects a \u2018Surge in Token Issuance\u2019 for 2021 After Crypto Law Promulgation<\/h2>\n
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Definition of Cryptocurrencies in the Russian Law<\/h2>\n