It is planned to introduce the concept of cryptocurrency and the conditions for its use in the Civil Code of Russia. This is reported by the newspaper Izvestia.
According to the publication, the State Duma Committee on State Construction intends on May 16 to support in the first reading an initiative that will fix the basic norms in the field of digital economy in the legislation.
The head of the committee, Pavel Krasheninnikov, explained that the purpose of the bill is to create a legal framework for regulating the turnover of cryptocurrencies and making transactions with them.
“We eliminate the existing risks of using digital assets for the purpose of withdrawing assets to an uncontrolled digital environment, for example, for the legalization of proceeds from crime, for withdrawing from foreclosure in bankruptcy, or for financing terrorism,” he said.