The SKOLKOVO Foundation presented the bill «On circulation of digital rights in the financial sector»

On 15 may, the competence Centre on the legal regulation of the digital economy, SKOLKOVO will hold a meeting to consider the draft Federal law «On circulation of digital rights in the financial sector and on amendments to certain legislative acts of the Russian Federation», said the head of the interdepartmental group on risk assessment of turnover of cryptocurrency in Russia Elina Sidorenko in his Telegram-channel Cryptoline.

According to her, the draft Federal laws on regulation of cryptoeconomy continue to be developed and discussed.

«This bill has been prepared with the purpose of synchronizing approaches to the regulation of digital rights, developed in previous legislative initiatives. I carefully reviewed the document and I can say that it is very interesting and useful. It has comments, and tomorrow I will Express it, but he really deserves discussion, because it gives answers to complex civil law of the circulation of cryptocurrency,» – said Sidorenko.

The Federal law in question regulates the relations arising in connection with the creation of the digital rights (rights to digital money and digital participation rights) in the financial sector and trafficking of digital rights.

Issue, purchase and sale of financial digital rights allowed legal entities and individuals registered as individual entrepreneurs, including foreign nationals and stateless persons according to the bill.

The creation of a financial digital rights is only allowed by posting on the investment platform in the manner prescribed by this Federal law, addressed to an indefinite circle of persons proposals of the Issuer about a quantity of financial digital rights of a particular kind or species.

When making the actions directed on creation, acquisition or disposal of financial digital rights, the person committing such action is obliged to use a qualified electronic signature and to access the operator of an investment platform account financial digital rights, said the bill.

Acquiring digital rights, the Issuer must describe a specific type of financial digital rights (including the timing and sequencing of monetary claims, which certify the right of the digital money), the provision of a counter which is obliged to transfer to the Issuer the purchaser financial digital law, its timing, and order, and to set deadlines after which they placed the offer becomes null and void.

Requirements for issuers of financial digital rights, as well as to purchasers of financial digital rights set by the Bank of Russia. Relations which do not fall under this legislation, govern the regulations on the securities market.


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