The Ministry of Finance gave the bill a definition of hashing and token

The Ministry of Finance gave the bill a definition of hashing and token

The Ministry of Finance of Russia published a draft law on regulation of digital assets.

The bill provides a definition of mining, cryptocurrency and token.

  • Mining — business activities aimed at creating a cryptocurrency and/or validation for the purpose of receiving remuneration in the form of cryptocurrency.
  • Cryptocurrency — a digital financial asset that is created and integrated into a distributed registry of digital transactions by participants in this registry in accordance with the rules of the register of digital transactions.
  • Token — a digital financial asset, which is a legal entity or individual entrepreneur with the goal of raising funds and is recorded in the register of digital records.

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The exchange operators digital of financial assets, according to the bill of the Ministry of Finance can only be legal entities. “An exchange operator digital of financial assets — a legal entity carrying out exchange transactions digital of financial assets of the same kind on digital of financial assets other kind and/or exchange digital of financial assets in rubles or foreign currencies”, — stated in the draft law. Individuals for contact with cryptocurrencies will need to apply to such operators.

In addition, the Ministry of Finance proposes to limit the maximum amount of cryptocurrency transactions for qualified investors. In accordance with the provisions of the bill, it will be limited to 50 thousand rubles. in one issue of tokens.