Monetary claims;
securities”);
non-public JSC”); or
A right to demand a transfer of securities specified in a decision on the issuance of DFAs, provided that actions on issuance, accounting and circulation of all listed rights are performed in electronic form in an information system maintained by an operator of the information system (the “
Information System Operator”).
An example of DFAs may be stablecoins issued by a certain person (issuer) which meet the above requirements.
DFAs are the second type of digital rights recognized by Russian law. A year ago, on January 1, 2020, a so-called crowdfunding law
1 was enacted introducing practical (utility) digital rights, the acquisition of which allows the acquirer to demand the provision of intellectual property, goods and/or services (e.g. investment in a coupon or voucher which grants rights to obtain the respective goods, services and/or rights in future).
Russia Prohibits Government Officials From Owning Crypto, Must Dump Holdings by April
The Russian Ministry of Labor has reportedly banned government officials from owning and using cryptocurrencies. Officials have also been ordered to dispose of any cryptocurrencies they own by April.
Russia Prohibits Government Officials From Holding or Using Cryptocurrencies
The Ministry of Labor and Social Protection of the Russian Federation has issued a letter in which it informed civil servants that they must get rid of any cryptocurrencies they are holding by April 1, Forklog reported Friday.
“Officials are obliged to dispose of digital financial assets issued in information systems organized in accordance with foreign law, as well as digital currencies, regardless of the country of issue,” the letter says. The news outlet described:
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Russian Government Sets Deadline for Officials to Disclose Crypto Holdings
Last Updated: 12 December 2020
For a substantial part of 2020, the Russian government has established regulations and brought order to its crypto space. Beyond just the obligations of private individuals and firms, the laws are also stretching to government officeholders.
Time for Transparency
On Thursday, Russian President Vladimir Putin officially amended the country’s crypto guidelines, “On Digital Financial Assets,” to compel government officeholders to disclose their crypto investments. The decree stipulates that officials will need to disclose information such as the digital assets they own, the data of acquisition, and how much of the assets they own.
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