According to Alexander, the advantages of this bill are that the legislator is trying to give legal qualifications to such concepts as cryptocurrencies, mining, token issuance and smart contracts: “There is a small ICO market in Russia and a cryptocurrency mining market that is growing at an industrial pace. legal "gray" zone. I am glad that the legislator decided to settle them, but there are still questions about how this will be implemented in practice. "
Alexander Nadmitov also claims that a number of strict restrictions of the bill do not contribute to the development of the legal ICO market, highlighting the following shortcomings: firstly, mining is recognized as an entrepreneurial activity, unqualified investors can invest a maximum of 50,000 rubles in digital tokens, and secondly, the exchange of digital financial assets can only occur through regulated financial market participants, which increases transaction costs and limits the scope of their application; thirdly, it is not clear how VAT transactions with digital financial assets will be taxed. In December 2017, the firm accompanied a transaction in which a client bought shares of an American corporation for bitcoins under New York law. "If it was carried out according to the bill of the Ministry of Finance, it would be necessary to use the services of the operator. And this increases transaction costs." - said Alexander Nadmitov.
Nadmitov, Ivanov and Partners actively advises on ICO issues, cryptocurrency mining and transactions with their use.
In more detail about the pros and cons of the draft law of the Ministry of Finance: https://pravo.ru/review/view/147482/?cl=N