Home News State Duma will consider 27 draft bills on cryptocurrency in 2018

State Duma will consider 27 draft bills on cryptocurrency in 2018

As stated by the chairman of the Board of the Skolkovo Foundation Igor Drozdov, the State Duma of the Russian Federation will consider 27 draft bills on cryptocurrency and blockchain in 2018.

“The two-year goal is to develop and adopt about 50 draft laws in the field of digital economy. About 27 of them are to be introduced to the State Duma this year,” – the official said.

Drozdov stressed that most of the draft bills were developed by various representatives of the business community, not by Skolkovo Foundation itself, which serves as a communication link between entrepreneurs and authorities and promotes positive changes in the field of digital economy. New draft bills cover the issues of data circulation, users identification and bringing the notions of blockchain and cryptocurrency into Russian legislation.

As we reported earlier, one of the draft laws introduced to the State Duma offers to add the notions of “digital law” and “digital money” to the Civil Code of the Russian Federation in order to limit the possibility of converting money to cryptocurrencies and protect the investors’ rights.

At the same time, Russian Ministry of Finance has published a controversial draft law on cryptocurrencies which, if adopted, will regulate the issuance, creation, storage and circulation of digital assets in Russia, as well as rights and obligations under smart contracts.