Deputy Aksakov calls 2023 the “year of the DFAs” in Russia
According to the official, sanctions against Russians will stimulate the development of the digital financial assets market
07.10.2022 - 09:45
355
2 min
0
What’s new? Anatoly Aksakov, chairman of the State Duma Committee on the Financial Market of the Russian Federation, commented on the eighth package of anti-Russian sanctions adopted by the EU, which includes a complete ban on the provision of crypto services to Russian citizens. According to the official, this will only stimulate the development of the domestic market of digital financial assets (DFAs). He added that next year could become the “year of DFAs” in Russia, TASS reports.
What is known about the sanctions? On October 6, the EU authorities imposed a complete ban on the maintenance of the crypto wallets of the Russian Federation’s citizens. Russians will also not be able to create accounts or store digital assets on crypto platforms, regardless of their amount.
What other statements have been made? Aksakov noted that such decisions had already been made before, but de facto nothing had changed, and all restrictions were easily circumvented. Russia will develop its own blockchains for the circulation of DFAs, and the restrictions imposed will lead to the active development of modern technologies, the deputy stressed.
In this, Aksakov considers it unacceptable to use DFAs as a means of payment within the country, he even suggested prosecuting for such a thing. In late September, he reported that the largest Russian exchanges are ready to start working with cryptocurrencies. This will become possible as soon as the legal conditions for the implementation of international crypto payments are created. The Bank of Russia and the Ministry of Finance are currently working on the relevant draft law.
Earlier, the managing partner of GMT Legal Andrey Tugarin said that crypto exchanges with a license in the EU countries would be forced to comply with new sanctions, which, in turn, would new opportunities for non-custodial platforms and DeFi projects.
Useful material?
Market
To advance crypto-friendly regulation, Trump’s party needs to win a majority in the Senate
Oct 18, 2024
Incidents
The regulator believes that the court erred in not recognizing retail sales of XRP as securities transactions
Oct 18, 2024
Market
The leader was the Solana network, with 100 million active addresses per month
Oct 17, 2024
Crypto regulations
Amendments to the regulation of financial institutions have been published for public discussion until October 30
Oct 16, 2024
Market
Over the past four years, the company’s shares have grown by 1540%, while the index has gained only 111%
Oct 16, 2024
Incidents
Over the last 24 hours, the asset has updated its all-time high at $2,34
Oct 15, 2024