State Duma deputies proposed a bill on judicial protection of the rights of crypto-currency users

According to the proposed laws, such concepts as "digital law" and "digital currency" should be added to the Civil Code. This should prevent the withdrawal of funds into digital currencies in the event of bankruptcy. Also, this bill will help protect the rights of crypto-currency investors.

The introduced bill should regulate the rights of investors under the Civil Code of the Russian Federation. State Duma Speaker Vyacheslav Volodin and head of the Committee for State Construction and Legislation Pavel Krasheninnikov initiated the bill.

The new bill will protect the rights of crypto-currency users

First of all, it is proposed to introduce into the Civil Code such basic definitions that will allow to control a new direction of the market of economic relations.

Among them, such concepts as tokens and crypto-currencies. Also, new laws should provide all the necessary conditions for carrying out crypto-currency transactions within the law. Among other things, these laws should provide judicial protection to citizens or organizations that hold these assets.

In the explanation to the bill, the following is said:

"Legal protection will be provided for investors, including abuse of such assets."

В случае принятия данного законопроекта, появится возможность «избегать применения цифровых активов для вывода средств в среду, которая не регулируется законодательством РФ. Кроме того, это не позволит уклоняться от уплаты налогов, в том числе, в случае банкротства, в целях легализации дохода, который был получен преступным путем. А также, это позволит уйти от незаконного финансирования терроризма».

Author: Olga Novikova, Analyst Freedman Club Crypto News
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