Aksakov proposed to amend the law on digital assets

Anatoly Aksakov, head of the RF State Duma Committee on the Financial Market, proposed amendments to the law “On digital financial assets” . He stated this at the FinNext 2021 forum, writes Regnum .

Aksakov believes that it is necessary to clarify the concept of digital currencies prescribed in the law in connection with the possible issue of a digital ruble by the Bank of Russia:

“After all, the digital currency of the Central Bank is also a digital currency, and we need to make sure that one definition refers to cryptocurrencies, and the other to digital currencies backed by fiat money,” he stressed.

The official also noted that the development of infrastructure by banks to work with digital currencies will accelerate the development of the latter. 

Anatoly Popov, Deputy Chairman of the Board of Sberbank, named letters of credit, targeted loans, banking support, and government contracts among the main areas of application of digital financial assets of banks.

“With working mechanisms of tokenization, spending on salaries for employees would be done using smart contracts, today control is done manually,” he added.

Earlier, Aksakov said that if a digital ruble was issued, it would be necessary to introduce this concept into legislation as a new form of money .

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