Russia’s RUIE Suggests Local Lawmakers Divide Crypto Assets in Separate Groups

News
Wed, 09/12/2018 - 16:30
Yuri Molchan
The RUIE stands for Russian Union of Industrialists and Entrepreneurs. Their group of experts, dealing with digitalizing the country, have developed a draft bill
Cover image via U.Today

The RUIE stands for Russian Union of Industrialists and Entrepreneurs. Their group of experts, dealing with digitalizing the country, have developed a draft bill and presented it during the Eastern Economic Forum.

The experts suggested Russian lawmakers divide virtual assets into three groups.

Group one: tokens, equal to securities or financial derivatives.

Group two: cryptocurrencies themselves.

Group three: nonfinancial assets that prove the conclusion of commercial contracts.

Curiously, a poll made by the RUIE among 600 Russian businesses has shown that most entrepreneurs have little knowledge and understanding of what a digital economy is. The head of RUIE believes that before implementing digital technologies on a wide scale people must become well aware of what this is all about.

 

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About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.

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