Russia: Law regulating digital financial assets (Federal Law No. 331-FZ/No.138674-8)
Progress
Scope
Timeline of events
Implementation of Federal Law No. 331-FZ regulating digital financial assets
On 24 July 2022, law No.138674-8 “On Amendments to Certain Legislative Acts of the Russian Federation and the Suspension of Certain Provisions of Article 5.1 of the Federal Law on Banks and Banking Activity” is implemented. The law regulates the cir…
SourceEntry into force of Bill regulating digital financial assets
On 14 July 2022, the law No.138674-8 “On Amendments to Certain Legislative Acts of the Russian Federation and the Suspension of Certain Provisions of Article 5.1 of the Federal Law on Banks and Banking Activity” enters into force following its publi…
SourceAdopted Bill regulating digital financial assets
On 8 July 2022, the Russian Federation Council adopted Bill No.138674-8 “On Amendments to Certain Legislative Acts of the Russian Federation and the Suspension of Certain Provisions of Article 5.1 of the Federal Law on Banks and Banking Activity”, w…
SourcePassed Bill regulating digital financial assets
On 6 July 2022, the State Duma (lower house of the Russian parliament) passed Bill No.138674-8 regulating the circulation of digital financial assets (DFA) and utilitarian digital rights (DPR) as a means of payment in Russia. The bill prohibits the …
SourceIntroduced Bill regulating digital financial assets
On 7 June 2022, the Bill No.138674-8 regulating the circulation of digital financial assets (DFA) and utilitarian digital rights was introduced in the State Duma. The bill prohibits the use of digital financial assets to pay for goods or services an…
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