23 Dec 2020 · 1 min read

Russian Parliament Expects a 2021 ‘Surge’ in Token Issuance

Russia’s parliament, the State Duma, said that it is braced for a “surge in token issuance” in the new year.

Source: Adobe/Volodya

Per a report published in the Parliamentary Gazette, Anatoly Aksakov – the head of the Duma’s committee on financial markets and the chief architect of Russia’s crypto legislation – stated that parliament was expecting token releases to come thick and fast when the country’s first crypto law, “On Digital Financial Assets“ promulgates on January 1, 2021.

Aksakov was quoted as stating that “a big number of large enterprises had asked us to pass the law quickly,” adding, “I know that they are going to issue stablecoins.”

This group of companies could well include major commercial banks, as well as mineral and resource miners, many of whom are keen to tokenize their mining and exploratory efforts.

And Aksakov added that a busy schedule was already developing for next year, with parliamentarians debate issues pertaining to the “digital ruble,” a proposed new digital currency.

He stated,

“In my opinion, the digital ruble is one of the future forms of the ruble, and it should contribute to the development of the financial assets market.”

And Aksakov explained that a bill that will allow entrepreneurs, startups and small and medium-sized businesses to remotely access banking, insurance and stock market-related services was also in the pipelines for 2021. The new legislation, he added, would “expand the capabilities of SMEs to operate in the financial market.”
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