Maria Samartseva, the Counsel and Head of the IP litigation practice at Rybalkin, Gortsunyan, Dyakin and Partners (RGD), took part at the Pravo.ru conference “Digital Markets and Ecosystems: Legal Issues conference” as a speaker. Pravo.ru held the event. During the sessions, experts discussed the regulatory challenges of digital markets, digital transformation, expected legislative changes, and current risks.
In the opening speech on the practical application and implementation of the mechanism for the circulation of digital currencies in Russia, Maria Samartseva explained the concept of regulating the circulation, pointed out the prerequisites, and necessary steps related to changing the legislation and the formation of a legal market for digital currencies in Russia. Maria shared a view connected with the requirements for key market players - the organizers of the exchange of digital currencies, exchange operators, crypto exchanges, private investors, companies, and trading platforms. Maria also voiced the technical and organizational requirements in the field of regulation, control, and supervision.
Special attention was paid to the terminological difference between "digital currency" and "cryptocurrency" and the properties of these blockchain assets. During the session, the main areas of creating a circulation mechanism of digital currencies in Russia were touched upon - the establishment of the subject composition and the introduction of appropriate changes to the legislation.
During the discussion, Maria shared her opinion on the prospects for using digital currencies in Russia and international banking, considering the current level of development of blockchain technologies, as well as the challenges and needs associated with both the political and economic situation and the specifics of banking transactions.
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