The State Duma postponed the consideration of the bill on the regulation of cryptocurrencies

Anatoly Aksakov, head of the State Duma’s financial market committee, said that a meeting with finance minister Anton Siluanov on a bill on cryptocurrencies has been postponed indefinitely.

“The meeting was postponed until the deadline was determined, it depends on the schedules. Yesterday, the schedule did not allow the meeting to be held not because there were irreconcilable differences. They are irreconcilable, yes. But for this meeting is also going. There is a position that the Bank of Russia takes firmly, there is a position that other government officials take quite firmly, ”said Aksakov.

Recall that the bill introduces the concepts of cryptocurrency and token, while, according to the document, they differ in the number of issuers and the purpose of the issue. If there is one issuer, then this is a token, but if there are many issuers or miners, then this is cryptocurrency. The bill also defines the concept of a smart contract.

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According to Aksakov, the Russian Union of Industrialists and Entrepreneurs (RSPP) insists on the adoption of the bill. Industrialists want to issue tokens secured by commodities and sell them to interested parties. But this requires a legal basis.

Recall that the Prime Minister of the Russian Federation Dmitry Medvedev in August instructed the responsible departments to adopt the law before November 1, 2019. It was expected that after the meeting on September 18, the bill would be signed as soon as possible.