Yuri Molchan

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

The RUIE stands for Russian Union of Industrialists and Entrepreneurs. Their group of experts, dealing with digitalizing the country, have developed a draft bill
Russia’s RUIE Suggests Local Lawmakers Divide Crypto Assets in Separate Groups

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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