Russian government prepares legislation to regulate non-fungible tokens.
Bank of Russia, known for its hardline stance on cryptocurrencies, insists that the Ministry of Economy should not deal with the issues related to the regulation of digital tokens. According to the monetary authority, these fall under its competence and that of the Finance Ministry. The regulator opposes the legalization of the circulation of cryptos like bitcoin in Russia and their use for payments.
The report adds that for now the industry is waiting to see how the situation develops from here. Andrey Tugarin, managing partner at GMT Legal, shared his opinion that an incorrect definition of digital collectibles in the Russian legislation could significantly narrow the scope of their application.
“The functionality of NFTs is not limited to digital art for a long time. They can act as tickets to events or as a form of securing ownership of virtual property, and as a security,” he pointed out. Russian officials want to expand the country’s regulatory framework for both cryptocurrencies and tokens, currently consisting mainly of the law “On Digital Financial Assets,” which went into force in January 2021. It introduced the terms digital financial assets, which partially covers cryptocurrencies, and digital rights, or tokens.to the State Duma in May.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Russia Is Quietly Ramping Up Its Internet Censorship MachineSince Vladimir Putin blocked Facebook, Instagram, and Twitter in March, Russia has been pushing away from the global internet at a rapid pace.
Les mer »
Russia-Ukraine war: A weekly recap and look ahead (July 25)WNBA star Brittney Griner's trial will resume in Moscow on Tuesday. EU energy ministers are scheduled to meet in Brussels on gas supply. Russian Foreign Minister Sergei Lavrov is visiting Ethiopia, Uganda, the Republic of Congo and Egypt.
Les mer »
Russia Is Quietly Ramping Up Its Internet Censorship MachineSince Vladimir Putin blocked Facebook, Instagram, and Twitter in March, Russia has been pushing away from the global internet at a rapid pace.
Les mer »
European Union approves new package of sanctions against RussiaTop news stories on Russia's Channel One from July 17 to July 24, 2022, covering the war in Ukraine and other international affairs.
Les mer »
Russia cutting natural gas through pipeline to Germany by another halfRussia said the equipment needs to be repaired, though Germany has rejected the technical explanation for the gas reduction. The flow was already cut by 60% last month.
Les mer »
Russia to Cut Europe’s Gas Flow via Nord Stream to 20%Russian gas flows to Germany through the Nord Stream pipeline will drop to about 20% of capacity, Gazprom said, blaming turbine problems
Les mer »