DFA issuers ordered to block funds of sanctioned foreign companies

The State Duma has passed a law requiring operators of information systems that issue and exchange digital financial assets (DFAs) to block the funds of foreign companies subject to Russia’s sanctions.

Similar transactions must also be blocked by banks, insurers, microfinance institutions and operators of financial platforms.

Earlier, at the legislative level permitted to engage in the issuance or exchange of DFAs.

In late June, during the second reading, the State Duma approved a bill that provides authorization for remote identification of foreign clients of DFA-issuing platforms.