In the state Duma introduced bills designed to regulate financial markets associated with digital technology. The initiator of the projects was a group of deputies headed by Chairman of the Duma Committee on financial market Anatoly Aksakov.

The draft law “On digital of financial assets” is dedicated to the now popular cryptocurrency. It defines crypto-currencies, token, hashing, digital wallet. Legislate the contract concluded in electronic form – smart contract. The key difference between cryptocurrency and token, according to the bill, is that a token issued by one Issuer, but cryptocurrency few. The document explicitly stipulates that these assets are not legal tender on the territory of Russia. Mining is defined as activities to create a cryptocurrency or validation of its creation with the aim of obtaining compensation in the form of cryptocurrencies and recognized business activity.

The bill provides that all deals with digital assets should be carried out through the operators of the exchange of digital assets that can only be legal persons who are either participants or exchanges. Provides for the exchange of tokens for rubles or foreign currency. Possibility and rules for the treatment of crypto-currencies should be determined by the Bank of Russia in coordination with the government. Also provided authority for the Central Bank to establish the limits of investment amount in tokens for unskilled investors.

The second draft law regulates the relations connected with attraction of money through crowdfunding. It defines legal bases of activity of operators of investment platforms. Operators can be Russian companies included in the register of the Bank of Russia. The minimum size of own means of the operator 3 mln. is comparable with the requirements for professional participants of the securities market. Specifies that the requirements for the leadership and members of the operator to meet the requirements for professional participants, enshrined in the law “On securities market”. According to Anatoly Aksakov, the first reading of draft laws is scheduled for April, the second and the third in may and June, because, in accordance with the instructions of President Vladimir Putin, voiced in the message to the Federal Assembly on 1 March, the draft laws should be adopted before July 1 of the current year.