Russia proposed to introduce cryptocurrencies to the Civil Code

Russia offers to legitimize cross -border cryptocurrency operations in 2023, but this will require changes in the Civil Code. This was announced in an interview with Izvestia by the director of the Department of Financial Stability of the Ministry of Finance Ivan Chebeskov.

According to him, to make international payments in digital currency, it should be recognized as property at the legal level. Now the authorities are discussing possible legislative initiatives.

Another important issue is the taxation of cryptocurrencies. The head of the Federal Tax Service Daniil Egorov noted that the decision will be made based on the procedure for regulating these transactions in the Russian Federation.

The head of the Duma financial committee Anatoly Aksakov added that now there are “disputes” about the need to introduce the norms of cryptocurrencies in the Civil Code, since this will slow down the process of legalizing transactions.

At the same time, the Prime Minister of the Russian Federation Mikhail Mishustin instructed to prepare the proposals for the development of cryptocurrencies and digital ruble by December 19, by December 19.

The Ministry of Finance, Rosfinmonitoring https://gagarin.news/news/blockchain-in-the-supply-chain-management/ , the Federal Tax Service and the FSB will take part in the discussion of the roadmap. It should include provisions governing mining and circulation of digital currency in the territory of the Russian Federation, as well as its use in international calculations.

The head of government also ordered the department to develop a mechanism for simplified access of foreign investors and issuers to the Russian financial market using remote identification.

Recall that in February the Ministry of Finance of the Russian Federation submitted a bill “On digital currency”. It provides for operations with cryptocurrencies through Russian banks, identifying wallet holders and dividing investors by qualifications.

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