The Russian State Duma is anticipating a surge in token issuance in the country by next year. According to a <a href="https://www.pnp.ru/politics/v-komitete-gosdumy-ozhidayut-vsplesk-vypuska-kriptovalyut.html" target="_blank" rel="nofollow noopener">report</a> published in the Parliamentary Gazette, a key member of the Russian State Duma and the head of the financial markets committee, Anatoly Aksakov mentioned in a statement that token release in the country will boom once the implementation of the Digital Financial Assets Act comes into effect on Jan. 1, 2021.
<h2>Russia Expecting Token Issuance Surge in 2021</h2>
Anatoly Aksakov mentions that the <a href="https://www.cryptoknowmics.com/news/russia-proposes-crypto-amendment-regarding-rules-and-penalties-for-holders/">Russian parliament</a> has received several queries from large enterprises regarding the faster implementation of the country’s first crypto legislation.

These businesses could well include commercial banks, as well as mineral and resource miners who remain interested in tokenizing their mining endeavors. The lawmaker assured that local companies will be able to issue their own stablecoins by next year, saying:

“A lot of big businesses have asked us to pass the law more quickly as they are excited to take advantage of the growing popularity of digital assets, and I know they’re going to produce stablecoins.”

Also, Aksakov did mention the possibility of a <a href="https://www.cryptoknowmics.com/news/binances-peer-to-peer-trading-platform-now-supports-russian-ruble/">digital ruble</a> in the future, saying:

“From my point of view, digital ruble is one of the future forms of our ruble, and it should contribute to the development of the financial asset market.”

Aksakov also added that a bill that enables entrepreneurs, startups and small and medium-sized businesses to remotely access banking, insurance, and stock market-related services is also in pipeline for next year.
<h2>Russia Tops in Bitcoin P2P Trading
</h2>
Last month, the Prime Minister of Russia, Mikhail Mishustin, has mentioned that the government of Russia is planning to recognize <a href="https://www.cryptoknowmics.com/news/russian-government-plans-to-treat-digital-assets-as-property/">digital financial assets as property</a>. Hence, cryptocurrency owners will be able to claim it under property rights in Russian courts. The recent initiatives show that Russia is planning to support digital assets under a clear regulatory framework.

Russia’s enthusiasm for cryptocurrencies is growing. According to the latest report from P2P exchange LocalBitcoin, Russia currently tops the list of P2P Bitcoin trading.

Russian Parliament Expecting High Token Issuance in 2021

Russian State Duma is anticipating a surge in token issuance by next year once the implementation of the Digital Financial Assets Act comes into effect.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

Russian Parliament Expecting High Token Issuance in 2021

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