Bank of Russia recommends regulation of NFTs, smart contracts

2022/11/08 21:22

According to a coindesk report, Russia's chief financial regulator said in a new advisory report released on Monday that Russia could have more detailed tax rules for digital securities and utility tokens, but already has enough of a regulatory environment to create a legitimate market for digital assets. The paper recommends more detailed rules to address the taxation of digital securities and utility tokens, as well as a legal framework for the tokenisation of securities, debt, precious metals and gems, and the issuance of NFTs proving title. the Bank of Russia also recommends the integration of digital asset trading into the traditional stock market infrastructure. The Bank of Russia hopes to receive comments on the report by 7 December.

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