MOSCOW, August 8. /TASS/. Russian President Vladimir Putin signed a law on experimental legal regimes in terms of developing and implementing digital innovations, including conducting foreign trade settlements in cryptocurrency.

The law stipulates that as part of experimental legal regimes, individual provisions of the legislation may be amended or excluded for the purpose of conducting transactions with digital currency. These include the implementation of transactions with cryptocurrencies, in particular their use as a means of payment under foreign trade agreements.

The document also allows for changes to individual provisions concerning the use of the concepts of "currency values", "currency transactions", "electronic platform". The law also allows changes to the requirements for organizers of cryptocurrency trading and the procedure for admitting digital currencies to them.

However, the law states that the decision to establish an experimental legal regime affecting transactions with digital currency, as well as issues related to currency regulation and control will need to be agreed upon with the Finance Ministry, the FSB of Russia and the Federal Financial Monitoring Service (Rosfinmonitoring).

Experimental solutions on financial market

The signed law contains a list of rules that can be changed or excluded by the provisions of the experimental legal regime program. This concerns the deposit insurance system and control over its functioning, issues related to organization and functioning of the payment system of the Bank of Russia, the payment card system, the procedure for resolving disputes under a consumer loan agreement, provisions on the obligations of financial market entities to maintain accounting and reporting, and requirements for business reputation.

The law also obliges the Bank of Russia to establish restrictions on the volume of individual financial transactions. In addition, the experimental legal regime program must contain an assessment of the risks of money laundering, disclosure of information constituting a banking or other secret protected by law, violation of the rights and interests of policyholders, insured persons, and a number of other provisions.

The law has been published and comes into force on the day of its official publication.