Russia’s Parliament Representatives Considering to Postpone Adoption of Bill On Digital Financial Assets (DFA) until Autumn

July 9, 2019 By: Nwabundo Wisdom

 

Russia’s parliament, the State Duma is considering to further postpone the adoption of the country’s major cryptocurrency bill “On Digital Financial Assets” (DFA) to another date, preferably the autumn session. This was reported from a source on July 9.

Per the report, the State Duma, revealed that it is considering postponing the adoption of the DFA bill to the autumn session. However, the other “bill on crowdfunding” has gained the approval of representatives of the parliament, as disclosed by the chairman of the State Duma Committee on Financial Markets, Anatoly Aksakov.

Speaking in the report on July 9, Aksakov revealed that representatives of the state Duma have not agreed on a common decision regarding the future of digital currencies in Russia, he said:

“The law on the DFA is set to decide whether we will prohibit cryptocurrencies as a medium of exchange in Russian legislation, meaning that there will be no exchange points nor exchanges that work with cryptocurrencies. We have not yet reached consensus on the issue. We need to define what cryptocurrency is at the legislative level. Then there is a fork in the road: we either prohibit organizing infrastructure for the purchase and sale of cryptocurrencies in Russia, or allow it.”

In an earlier report, Russia’s parliament had proposed to adopt cryptocurrency legislation at the end of June, a period in which Russia’s Deputy Finance Minister, Alexei Moiseev, announced that a separate legislation for Initial Coin Offering (ICO), has been approved.

 

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