The aim of the changes is to improve state control in the area of virtual assets, as well as to create conditions for the stable and transparent functioning of the cryptocurrency market in the country.
The law clarifies the concept of "stablecoin" and introduces new terms, including "Real World Asset Token (RWA Token)," "state mining," and "state cryptocurrency reserve."
Additionally, the document allows for the implementation of pilot regulation in the field of virtual assets. The president will be able to establish special regulatory regimes in certain territories, creating "regulatory sandboxes" for testing new services and technologies.
Authorized state bodies will have the right to license and issue permits within this special regime. Licenses will be issued for a limited period, will be personal, and cannot be transferred to third parties.
To obtain a license for providing services in the field of virtual assets, legal entities must submit the appropriate application to the authorized body.
The law also stipulates that individuals engaged in mining are required to undergo state registration. Individual entrepreneurs and legal entities will be able to engage in mining only after obtaining the relevant certificate.
