Bank of Russia to Develop Legal Framework for Digital Asset Segregation

The Bank of Russia is drafting amendments to enable the transfer of digital financial assets (DFA) into trust management and their inclusion in mutual investment funds. This was announced by the Deputy Chairman of the Central Bank, Philip Gabunia, as reported by Vedomosti. 

The regulator will outline a mechanism to segregate these assets from other obligations of managers. This is necessary to ensure that in the event of a company’s bankruptcy, investors’ assets do not become part of the bankruptcy estate and are not subject to claims. 

Changes are planned for the laws governing DFAs and bankruptcy procedures.

Market participants in the DFA sector are awaiting the Central Bank’s approval for pilot transactions with management companies—such projects are being prepared by the Atomyze platform.

Earlier, ForkLog reported that a financial pyramid scheme deceitfully attempted to enter the DFA market.