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Russian Parliament Official Pushing for Quicker Work on Draft Crypto Bill

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The chairman of the upper house of Russian parliament has pushed MPs to hasten their work on digital economy bills that include a draft on crypto regulation.

This is according to a report from local news agency TASS.

Valentina Matvienko, who has functioned as the head of the Federation Council since 2011, talked to officials from different institutions, including the Upper House Committee for Economic Policy and Russia’s Ministry of Digital Development, Communications and Mass Media. She asked him to take a closer look at the reasons behind the substantial delay with the digital economy bills, TASS writes.

Matvienko said that these bills have already spent a year in the Duma, which is the lower house of Russian parliament, without any major changes. She asked MPs to find out what is slowing down their adoption, while also assuming that the legislation might be of substandard quality and should be edited.

The official also noticed that Russia has all the necessary data for a digital breakthrough, but the delays with legal framework force startups to seek other jurisdictions.

Earlier this month, the chairman of the Russian Duma, Vyacheslav Volodin, announced that the bills on the digital economy — including the ones on digital financial assets, digital rights and crowdfunding — will be a priority during the upcoming parliamentary session. He also urged lawmakers to create a favorable legal environment for the development of the digital economy in Russia.

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