Putin signed the law " on digital financial assets»

31.07.2020 18:14
Russian President Vladimir Putin signed the law " on digital financial assets (CFA)", which regulates the turnover of cryptocurrencies in the country. It will come into force on January 1, 2021.

The law defines a digital asset (tokens and stablecoins) as a right of monetary claim or an instrument for exercising rights under securities.

Digital currency (for example, bitcoin) in the context of the document is defined as a set of electronic data that can be accepted as a means of payment that is not a monetary unit of the Russian Federation or a foreign country, as well as as an investment.

Cryptocurrencies are recognized as property, and the law prohibits using them to pay for goods and services on the territory of the Russian Federation.

Experts have already warned that this will slow down the development of the cryptocurrency industry.

Recall that the state Duma adopted the law "on CFA" on July 22. On July 24, it was supported by the Federation Council.

Earlier, ForkLog reported that representatives of the cryptocurrency business intend to discuss the consequences of the law "on CFA" for the industry.

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