RAKIB criticized the draft law «On digital of financial assets»

Russian Association of cryptocurrency and blockchain (RAKIB) do not agree with most of the points of the draft law «On digital of financial assets», which is now submitted to the Duma by group of deputies led by the head of Committee for financial market Anatoly Aksakov.

According to the President of RAKIB Yuri Pripachkin, the bill, in particular, generates benefits for working with cryptocurrencies for foreign investors while limiting the ability of Russian investors.

«It is illogical to impose any restrictions on the fundraising, citing concern about the future of defrauded investors, but removing restrictions for foreign investors. Apparently the usual scheme of investment, the Russia-Cyprus-Russia all satisfied,» he said.

Pripachkin also criticized the offer to exchange crypto currencies for Russian rubles using the exchange operators digital of financial assets, which can only be a legal entity.

«Status of such operators is unclear, it is obvious that captainvalor will not work with them, he said. – We also do not agree that mining is a commercial activity».

Pripachkin believes mining procedure, the production of some software codes that do not represent any value and does not participate in economic activities.

«The economic sense occurs when they switch to Fiat money – it is from this stage you can enter taxation, – says the head of Rakiba. All this can lead to leakage of captainvalor from Russia, that did not happen, and the industry has evolved – it is necessary to consider the position of industry participants and agree on the approach to the regulation of cryptocurrencies with members of the Customs Union».

According to Pripachkin, the bill needs work – RAKIB will form their proposals and send them to the government in early April.

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