Expert Council under the state Duma approved the establishment in the Udmurt Republic «regulatory sandboxing»

The first in this year meeting of the Expert Council on digital economy and technology of the blockchain with the Committee of the State Duma of the Russian Federation on economic policy, industry, innovative development and entrepreneurship, the deputies discussed the development of the blockchain, mining, the release of the ICO and legislative support of the state program «digital economy».

According to the coordinator of the Expert Council, Deputy Chairman of the state Duma Committee on economic policy, industry, innovative development and entrepreneurship Dmitry Sazonov, the meeting was devoted to two areas: the initiative of the regions to create conditions for the application of the blockchain, including mining, release of ICO and legislative support of the state program «digital economy».

«To confuse the technology of the blockchain with fraudulent schemes in any case it is impossible, but with the recklessness of this approach is also impossible. Of course regulatorika should be, but today she needs to wear a soft nature,» said Sazonov.

He noted that the market in this region by the end of 2017 reached $600 billion Through these activities, the entrepreneurs have the opportunity to implement their own projects and to find money to Finance them.

Sazonov said that by the end of 2017 the number of people collecting money through ICO startups began to decline without any regulatory mechanisms.

«People have accumulated knowledge, the correct conceptual framework and attitude to the terms that today the business is engaged. A sharp reduction in projects is due to the growth of quality – people have stopped reckless spending of money,» – said the Deputy.

Coordinator of the Expert Council considers that the market is ready to regulate this process alone, without additional regulatory mechanisms, but he needs a clear explanation of the Central Bank and Finance Ministry how to treat the tokens and cryptocurrencies.

The meeting also discussed the proposal of the Udmurt Republic to create a «regulatory sandboxing» in the city of Sarapul. Expert community strongly supported this initiative.

«Proposal for a soft regulatory «legal sandbox», which could be implemented within the region, even in the same municipality, appeared just in time. The status of single-industry town of Sarapul corresponds to the goal», – said Sazonov.

Speaking about the second issue on the agenda of the meeting, Sazonov said that existing in the framework of the «digital economy» five areas that are important for the issues discussed is «regulatorika». During the meeting an agreement was reached with representatives of ANO «the Digital economy to conduct an additional meeting on legislative support of «regulatory». The deputies will discuss the problems and barriers, which were taken as a basis by developers from the government.

According to Sazonov, you must also synchronize the work of the Federal Agency for digital security, the government and legislators.

He said that just this year the state Duma will consider 46 legislative initiatives relating to the digital economy that need to be agreed and within the Duma among the three committees: finincom, on ekonompolitike and informality.

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