A platform has been created in Russia for public discussion of the regulation of cryptocurrencies and digital assets – Bits Media

Commission on Blockchain Technologies and Digital Economy under the public organization "Investment Russia", The law firm Digital Rights Center and Roskomsvoboda launches a public campaign demanding that the laws are allowed, interfering with circulation cryptocurrencies and digital assets in Russia.

The collection of initiatives on the balanced regulation of the turnover of cryptocurrencies and digital assets will be held on the Zakon.crypto.ru platform.

A petition is presented on the initiative website, addressed to the Ministry of Finance of the Russian Federation, The Ministry of Economic Development of the Russian Federation, Central Bank of the Russian Federation, Federal Tax Service of the Russian Federation and the Committee on the Financial Market of the State Duma of the Russian Federation. The authors of the petition are asked by state bodies to prevent the adoption of bills, which will extremely negatively affect crypto industries in Russia, as well as amend the Federal Law 259-ФЗ “On Digital Financial Assets and Digital Currencies” in order to bring it into line with the prevailing practices and interests of the crypto industry. The petition can be additionally signed on the Change.org portal.

1 january 2021 The Federal Law No. 259-ФЗ “On Digital Financial Assets has entered into force, digital currency and amendments to certain legislative acts of the Russian Federation ". The law regulates relations, related to the release, taking into account and circulation of digital financial assets and establishes a number of important definitions: "Digital financial assets" (CFA), "Digital currencies", “The information system operator, in which digital financial assets are issued and “digital financial assets exchange operator”.

Four bills, complementing the law and introducing additional regulation, Currently are on consideration in the State Duma and/or undergo a procedure for assessing the regulatory effect (Other) to the Ministry of Economic Development. Bills offer amendments to the Tax Code, Law "On Combating Legalization (laundering) income, obtained by criminal means, and financing of terrorism ", Administrative, Criminal and Criminal Procedure Code of the Russian Federation.

Sarkis Darbignan, co -founder "Roskomvoboda":

“For several years we were promised, that in Russia a cryptor will be created for investors and projects, working in the field of distributed technologies. but, That approach, which was developed by the state lately, obviously does not suit the domestic professional crypto community, No global crypto -business, not "simple" cryptocurrency users. After many years of discussion regarding the legal nature of cryptocurrencies, the legislator still determined the “Law on Tsf”, that cryptocurrency (or, the language of the legislator, Digital currency) It is property. Wherein, A model of legal protection was chosen for property., guaranteeing judicial protection to owners of digital currencies exclusively under the condition of their declaration, that directly violates the right to judicial protection, Guaranteed article 46 Constitution of the Russian Federation. The law in its current edition creates for market participants only the responsibility, but does not establish for them any rights or benefits. Wherein, bills, the adoption of which is not far off, provide completely inadequate measures of administrative and criminal liability for users of digital currencies. Cryptoes already feels a clear skew, And if the bills are adopted in the form, in which they were presented to us, then this will slow down this innovative industry even more. "

The platform lists eight basic disadvantages of the current approach of legislators to regulate the crypto industry in Russia. Experts and the authors of the petition believe, what:

The existing and proposed legislative regulation is not well worked out from a legal point of view and gives rise to legal uncertainty. It does not take into account the current world practice and experience in regulating the crypto industry in other jurisdictions;
Judicial protection is available to owners of digital currencies only after declaring, What is a violation of the constitutional right to judicial protection;
Digital currencies cannot be used as payment for goods, work and services, which contradicts the nature and purpose of cryptocurrencies as a calculation tool;
The corrections under consideration in the Administrative Code of the Russian Federation provide for the introduction of unreasonably large fines for violations, related to the turnover of digital financial assets and digital currencies;
The amendments in the Criminal Code of the Russian Federation provide for punishment in the form of imprisonment for a period 3 years only for failure to submit reports to the tax authorities of the Russian Federation;
The threshold of mandatory declaration of operations with digital currencies and reporting is unreasonably low;
Complete absence of any benefits, including, tax, For crypto business.

Mikhail Tretyak, partner of the law firm Digital Rights Center:

“We do not propose to criticize the legislator - we propose to establish a constructive dialogue with the state, to jointly develop regulation, which will arrange all the links in the chain “state – citizens – business”. Initiative, Thus, aims to achieve a balance of all parties, without “distortions” in one direction or another, and easing regulation for the sustainable development of the crypto industry in Russia. We believe, that this initiative will meet with the understanding of government officials, and together we can change regulation for the better.

Also, we do not plan to dwell only on changes in legislative regulation. We propose that the state work together to improve the financial literacy of citizens when working with digital assets and digital currencies. It appears, that together we will be able to launch a series of educational programs for all interested parties. This will not only prevent the noticeably increasing cases of fraud, but will also allow citizens to make informed decisions regarding the use of digital currencies.”

Nikolay Gadzhiev, Chairman of the Commission on Blockchain and Digital Economy of the all-Russian public organization “Investment Russia”:

“The creation of a public initiative is an important step in creating a dialogue between the state on the one hand and the Russian blockchain community, Russian and international companies from the other. The existence of dialogue is extremely important for the formation of a sustainable financial and legal field in Russia, which will create conditions for the most effective development of the blockchain sector in the digital economy in Russia. Our country has limitless opportunities and unique specialists, when there is a two-way dialogue with the state, this will allow Russia to become the dominant leader in the blockchain field for many decades to come, opening new horizons for the Russian economy".