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Russia: Implementation of Federal Law No. 331-FZ regulating digital financial assets

Policy overview

Description

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…

Scope

Policy Area
Authorisation, registration and licensing
Policy Instrument
Business registration requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
national
Government Branch
legislature
Government Body
parliament

Complete timeline of this policy change

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2022-06-07
under deliberation

On 7 June 2022, the Bill No.138674-8 regulating the circulation of digital financial assets (DFA) a…

2022-07-06
under deliberation

On 6 July 2022, the State Duma (lower house of the Russian parliament) passed Bill No.138674-8 regu…

2022-07-08
adopted

On 8 July 2022, the Russian Federation Council adopted Bill No.138674-8 “On Amendments to Certain L…

2022-07-14
in grace period

On 14 July 2022, the law No.138674-8 “On Amendments to Certain Legislative Acts of the Russian Fede…

2022-07-24
in force

On 24 July 2022, law No.138674-8 “On Amendments to Certain Legislative Acts of the Russian Federati…