Platforms authorized by the Russian government issued digital assets worth around a billion rubles in April, the local press reported. The spike in the volume has been attributed to Russian companies experimenting with new financial instruments amid limited access to traditional capital.Seven placements of digital financial assets for a total of about 1 billion rubles were made in Russia last month, the Kommersant.
DFAs are relatively new instruments in Russia defined in the law “On Digital Financial Assets” that went into force in January 2021. Unlike decentralized cryptocurrencies, which are yet to be comprehensively regulated, these represent “digital rights” to securities or utility tokens and must have an issuing entity.
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