According to "digital economy" bill, digital money in the future can be used in Russia as the means of payment, but only in cases and on terms established in the law.
The digital asset bill was introduced in the Russian State Duma.
The authors were the speaker of the lower house of Russia’s parliament Vyacheslav Volodin and the chairman of the Russian State Duma Committee on State Construction and Legislation Pavel Krasheninnikov.
The bill sets a legal framework for the digital coins. According to it, only licensed operators would be allowed to exchange cryptocurrencies into Russian rubles.
The document creates conditions for transaction performing in the digital environment and provides protection to citizens and legal entities for such transactions. The concept of "digital law" is proposed to introduce. "Digital law" is the complex of digital data, which verify the rights of objects of civil rights: things, property, work results, services and exclusive rights.
It is also proposed to introduce the concept of "digital money" ("cryptocurrency"), but the project does not recognize cryptos as legal means of payment. In the future, digital money can be used as the means of payment, but only in cases and on terms established in the legislation.