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Law “On digital of financial assets”, prepared by the Finance Committee of the state Duma for the second reading, can be returned to the stage of first reading and substantially changed. This was stated by the head of the presidential Council for codification and enhancement of civil legislationPavel Krasheninnikov at a meeting held yesterday.

According to the draft Council conclusions prepared by the Deputy head Yevgeny Sukhanov, the bill has a number of shortcomings that need improvement.

One of the biggest comments to the document called included in it offers new editions of the laws on JSC and LLC.

In addition, the term “digital rights”, which is used in the document to refer to digital assets, experts believe the failure because “we are not talking about new rights, and new electronic they are committed”.

Experts also disagree with the definition of digital assets as a set of digital rights. They believe a better indication that “the rights of book-entry securities and any shares in the share capital of the company can ensure electronic data (“digital rights”)”, and the totality of these rights is assigned to one person, already referred to as a “digital asset”.

The anxiety of experts was caused and the idea of issuing “digital of financial assets” all legal entities.

Due to such a volume of complaints, at the Board meeting it was recommended to return the document to the stage of first reading.

Recall that the draft law “On digital of financial assets” was submitted to the Duma on March 20. After the adoption of the document in the first reading of the concept of “digital money” and “digital currency” was replaced by “digital rights.” And this happened in spite of the position of the Ministry of Finance. Later, from secoproject removed the concept of “mining” and “cryptocurrency”.

And in October RAKIB together with the Russian Union of Industrialists and entrepreneurs (RSPP) sent to the government and the state Duma the letter with the request of revision of the legislation regulating digital of financial assets. According to the head of the blockchain of the Association Yuri Pripachkin, the adoption of the law on digital assets in the current view will mean the end cryptoeconomy in the country.

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