Bill on issuing DFAs by Russia’s financial platforms passes first reading

The State Duma of the Russian Federation has approved in the first reading законопроект, under which the operator of a financial platform could serve as the operator of a blockchain platform for issuing or exchanging digital financial assets (DFAs).

The relevant registries are maintained by the Bank of Russia.

Through financial marketplaces, users can invest, access banking and insurance services, and engage with a range of financial instruments.

“The possibility of integrating the operator of a financial platform with the operator of the information system for issuing and exchanging DFAs will provide broad access to such services and create a competitive environment for regional small and medium-sized banks and insurance companies,” according to the conclusion of the State Duma Committee on the Financial Market.

Earlier, ForkLog reported that Rosbank, together with the Atomyze platform, conducted the first in Russia deal for exchanging tokenized gold using digital rubles.