• Sat. Sep 30th, 2023



Digital currency. Digital rights. Tsfa. UTsp. What is it and why?


Jan 11, 2023

Digital currency. Digital rights. Tsfa. UTsp. What is it and why?

The fact that Russia is trying to go its own way, but in the end it still comes to the same way, where all, but does it longer and less efficiently, is a fact. And the crypto acting market was no exception.


If you want to plunge into it, I advise you to read the following materials:

    From 2014 to 2019.; Federal Law about Tsfa; (for 1 quarter of 2022) on tax taxes in the Russian Federation.

Briefly – chronology as follows:

  • In 2011 About a year on the horizon, Federal Law No. 161 “On the National Payment System” arises, where cryptocurrencies could have fallen, but did not hit;
  • IN 2014 The information letter of the Central Bank of the Russian Federation that does not contain mandatory legal norms is published, on the basis of which, nevertheless, over the next 7 years, various crypto sites will be blocked, including FORKLOG;
  • In 2017 The expert council under the State Duma of the Russian Federation is gathering, where I bother to enter, as well as a working group at the Central Bank and a number of other amorphous formations;
  • Since 2018 In different quantities, versions of the Federal Law on cryptocurrency begin to appear, including with a complete ban on turnover and criminal punishment, but in the end –
  • In 2020, the Federal Law of the Tsf was released, where almost nothing is said about cryptocurrency;
  • In 2022, this oversight is tried to fix by accepting the Federal Law “On Digital Currency”: https: // sozd.Duma.GOV.ru/bill/1065710-7 .

CP. Tsfa. UTsp. Tsv

To begin with, recall a brief classification of crypto assets (full and more accurate – see. In an article on Hub.FORKLOG):

Cryptoactives. Meniscisk

Of course, it is worth adding an important point that interchangeable tokens (however, like a number of coins) can be recognized / qualified as “securities”, that is, as securities. Which ones? Another big question: including this, if you take an analogy with contracts that are not named securities, which for a number of jurisdictions looks like absurdity.

And yet – we will add:

Security and utility. Meniscisk

And now – let’s try to compare:

Concept C Ifrov P Rav ( CP ) Given normal. 1 tbsp. 141.1 of the Civil Code of the Russian Federation: “Digital rights are recognized as mandatory and other rights, the content and conditions of which are determined in accordance with the rules of the information system , the signs of the established law. Implementation, order, including transfer, pledge, encumbrance of digital law in other ways or restricting the disposal of digital law are possible only In the information system without Appeals to third party “.

Then it will become clear why he highlighted the phrases “Rules of the information system” and “third party”. Another thing is important now: CP – a generic concept, More precisely, even a category.

And then you need to compare. What exactly? Tsf and UTsp in Depositphotos launched the first place:

Concept CIfrov FInnan BUTKtiviv is given normally p. 2 tbsp. 1 Federal Law on Tsf: “Digital financial assets are recognized Digital rights, including monetary claims, the possibility of exercising rights by emission securities , the right to participate in the capital of a non -public joint -stock company, the right to demand the transfer of emission securities, which are provided for by the decision on the issue of digital financial assets in the manner established by … federal law, the release, accounting and appeal of which are possible only by making (changes) of the records In the information system based on a distributed registry, as well as other information systems “.

Further, there is a very important norm p. 6 tbsp. 1 of the Federal Law on the TsFA: “In information systems in which digital financial assets are issued, release can also be carried out digital rights, including simultaneously digital financial assets and others Digital rights . At the same time, the release, accounting and appeal of digital rights, including at the same time digital financial assets and other digital rights, are carried out in accordance with the requirements of … Federal Law for the issue, accounting and appeal of digital financial assets ”.

Thus, you can come to a simple conclusion: Tsfa – type of CP.

At the same time, based on a systemic interpretation of the norms of. 2 and Art. 5 of the Federal Law on the TsFA, the information system operator is:

  1. IP or Yul;
  2. On the territory of the Russian Federation and/or a legal entity whose personal law is Russian law;
  3. With permission from the Central Bank of the Russian Federation;
  4. Working according to certain rules.

Again, the theses can be expanded, but the main conclusion is obvious: Tsfa is a security tokens , issued in a special order in the territory of the Russian Federation and according to the rules (laws) of the Russian Federation. By the way, there are other subjects involved in the circulation of the Tsfa, but they are not at the moment not interested in us.

And then what is interested in?

U Tilitarian C ifr P Rava ( UTsp ) that are disclosed in the norms of. 8 of the Federal Law “On attracting investments using investment platforms and on amendments to certain legislative acts of the Russian Federation”, which states that: “In the investment platform that meets the signs provided for in paragraph 5 of Article 11 of this Federal Law, may be acquired, alienated and implemented The following digital rights ( Utility digital rights ):

  1. The right to demand transfer things (of things);
  2. the right to demand the transfer of exclusive right on the results of intellectual activity and (or) the right to use the results of intellectual activity;
  3. the right to demand the performance of work and (or) provision services “.

From here we can draw two important conclusions:

  1. UTsp – Another type of CPU, Like the Tsfa;
  2. UTsp – nothing more than utility tokens, issued in the territory of the Russian Federation and/or by Russian law.

Thus, we get another non -cunning scheme:

Digital assets

Why USDT and similar tokens are outside the subject of regulation?

I don’t know, but the legislator decided just like that. Judge for yourself:

  1. In the same norm p. 3 tbsp. 1 of the Federal Law about the Tsfa is said: “A digital currency is recognized as a combination of electronic data (digital code or designation) contained in the information system … in respect of which There is no face , Obligated in front of each owner of such electronic data, with the exception of the operator and (or) components of the information system, obliged only to ensure the compliance of the procedure for the release of these electronic data and the implementation of actions to enter (change) records to such an information system to its rules ”;
  2. On the official website https: // tether.to/ ru/ indicated the following: “All Tether (USD ₮) tokens are tied 1 to 1 to the corresponding fiat currency and 100% Provided reserves Tether. We publish data on the current total amount of assets and reserves daily ”.

Another problem: namely – binding to the dollar, because literally the norm p. 3 tbsp. 1 Federal Law about the Tsfa claims the following: “.. not which is a monetary unit of the Russian Federation, a monetary unit of a foreign state and (or) an international monetary or settlement unit, “while the USDT is attached 1 to 1 to the dollar. Yes, this is already a subsidiary feature for differentiation, but still it is present.

That is, USDT (as well as other similar currencies) not only have the obligated person, but also provision (and the right to require the extinguishing – respectively), which clearly does not fall under the definition of CV, therefore, in my opinion, this gap in the legislation should be interpreted unambiguously : USDT does not belong to CV for the Federal Law of the Russian Federation on Tsf .

And NFT?

NFT, and with them many wealthy derivatives (WNFT, LP, ETC.), quasi-tokens (the forces of voting in decentraland) and t.P. Assets, including technical tokens of different systems, are not regulated by any law in the Russian Federation. But this is a separate and big story. About her – next time.

Briefly about taxes

First of all, read the two, somewhat outdated, but showing the development of the practice of material: from 2018 and from 1 quarter of 2022, as well as the story of how one respectable citizen decided to whitewash NFT and what came of it (albeit not in the Russian Federation, but the essence things do not change from that: Fatf – it is everywhere, if you understand, of course, what I mean).

Now – about the specifics of the current.

The Federal Law on the ban of the Tsf and UTsp – accepted (by 20.07.22) and signed: It is forbidden To accept the TsFA as a means of payment or other oncoming provision for the goods transferred, the work performed, the services provided, as well as a different method that allows us to assume payment by digital financial asset of goods, works, services. Hence – such operations as: investments; Sale outside the Russian Federation-legal system; one -way transactions (inheritance) and t.P. In addition, do not forget that in the official office of the Federal Tax Service of the Russian Federation there is an article of income “4909 income from operations with financial assets”.

The Federal Law on CV has not been adopted, although the norm on the ban on its application as a means of payment of the payment of the payment is also in the Federal Law about the Tsf. More about this: https: // YouTu.BE/QQ2UPC9O6-4 .


Do not believe everything that the media and lawyers write who sell unnecessary services for expensive. Do not be afraid to study the large volume of regulatory and/or right acts, because only they help, and with them – judicial practice. Do not ask for help from anyone until you read the Federal Law “On the National Payment System”, the Federal Law about the Tsf, t.n. FZ of crowdfunding and other laws listed above.

Leave a Reply

Your email address will not be published. Required fields are marked *