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The Central Bank of the Russian Federation has postponed the preparation of proposals aimed at ensuring the registration of rights to CFA until 2024
The Bank of Russia has postponed the development of proposals aimed at clarifying mechanisms for depository accounting for digital financial assets (DFA) until 2024. This is reported in the draft action plan of the Central Bank for the implementation of the Main directions of digitalization of the financial market for the period 2022-2024.
According to the document, the regulator will prepare only the accounting concept by the specified date. The timing of the legislative changes has not been announced. However, already in 2022, it is planned to adopt other laws related to the taxation of cryptocurrencies.
For example, the authorities intend to approve the taxation of services for businesses engaged in the release and circulation of such assets. In addition, in 2022, federal laws are expected to be passed aimed at “imposing liability for illegal issuance and circulation” of cryptocurrencies. The development of the digital ruble platform is planned for 2023-2024. However, details on this item have not been disclosed.
The key tasks of the regulator until 2024 were to regulate the circulation of data, ecosystems and non-bank payment service providers. Also, the Central Bank plans to improve electronic interaction between market participants, the state, citizens and business. The regulator proposed to send proposals to the project by December 24, 2021 at [email protected].
We will remind, earlier the Moscow Exchange confirmed plans to create its own operator CFA. However, according to Igor Marich, Director of Sales and Business Development of the Moscow Exchange, before the launch of such a platform, the regulator must clarify the type of infrastructure of the operator of the CFA, the types of operations, as well as tax issues.
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