Aksakov told when the bill on cryptocurrency

© RIA Novosti / Grigory to Sysoeva in fotoreceptor Committee of the State Duma on the financial market Anatoly Aksakov. Archival photoAksakov told when the bill on cryptocurrency© RIA Novosti / Grigory to Sysoeva the image Bank

Preparation of the draft law on cryptocurrency will be presented on December 28, while he defines them as other property and considers the ICO (initial public offering tokens) as crowdfunding, providing a limitation on the amount of investment per investor, told journalists the Chairman of the Duma Committee on Finance Anatoly Aksakov.

«Define the approach to how it should be ICO. Again, this is not the latest version, the latest version will be discussed in the coming days. ICO is considered as an element of crowdfunding, and the approach that investors should be limited in the amount that they invest,» — said Aksakov, answering the question that will contain the law on the cryptocurrency.

«While cryptocurrency is defined as other property. We have today will be meeting a narrow range. Will be the last assessment before the presentation of the bill. Not allocated to any names, nor bitcoins, nor esters. All cryptocurrency is a different property,» he said, adding that the bill will be presented on December 28.

The MP stressed that the adoption of this bill possible by the end of March 2018. «I hope that the enactment (of the bill on cryptocurrency — ed.) will be in March. The problem is that we have a lot of people who buy cryptocurrency, they are being deceived. We need to allow people legally to work with it, the maximum to protect them,» — said Aksakov, adding that work on the draft bill involved the Central Bank and the Finance Ministry.

According to the head of the state Duma Committee, the cryptocurrency should not be subject to VAT. «My opinion is that the property is a financial instrument, financial asset, accordingly, his appeal should not be subject to value added tax», — he said.

The first Deputy Chairman of the CBR Sergey Shvetsov 19 December told journalists that the Central Bank plans to regulate crowdfunding as an alternative source of raising capital.