Bills on cryptocurrency and ICO are prepared for submission to the state Duma

The head of the Duma Committee on financial market Anatoly Aksakov at the parliamentary hearings in the state Duma expressed readiness of deputies to propose draft laws on digital of financial assets and crowdfunding (that is, about cryptocurrency and ICO) to speed up consideration and adoption.

The key focus, according to Aksakov, is regulation. In the plans the adoption of more than 50 normative acts regulating various issues of the digital economy. The importance of such solutions for business and government cannot be overestimated, said the Chairman of the Committee.

«In the state Duma we represent our constituents, and hence our attention will primarily focus on man and his rights. The main topic that will be considered in the review of all legislative solutions that will protect the rights as well as legal and technological protection,» — said Aksakov.

Very important, according to the MP, to implement the principle of voluntariness as the people’s attitude towards the topic may vary considerably. Those wishing to use innovative technologies to ensure accessibility, for example, financial services should use this right.

It should be borne in mind that the spread of the Internet in Russia remains on unworthy low – 70%, unlike other European countries, where the figure is over 80% and approaching 90%. So first of all we should focus on this issue, reminded Aksakov.

Another problem is the concept of personal and user data. It is known that some companies selling so-called user information, which can be attributed to personal data. Judicial bodies of various instances to interpret the situation differently, so you need to clearly and unambiguously determine what applies to personal and what to user data, as well as to outline the rights and responsibilities of participants in this market, said the Deputy.

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