The Russian State Duma passes the Digital Financial Assets Act to legalize encrypted transactions

According to Regnum, the State Duma, the Russian legislature, passed the “Digital Financial Assets” (DFA) bill in the final third reading review, which is expected to take effect on January 1, 2021. The DFA Act provides a legal definition for digital assets and legalizes cryptocurrency transactions in Russia, but it prohibits the use of cryptocurrencies such as Bitcoin as payment methods. Chain Wen previously quoted RBC reports that on July 10, Anatoly Aksakov, chairman of the Financial Committee of the Russian State Duma and person responsible for negotiating Russia’s “digital assets” bill, said that Russia’s “digital currency law” is nearing completion and may be before the end of the spring meeting. by.