The draft law about tokens will be considered by the State Duma on may 22.

The draft law gives the concepts of "cryptocurrency", "mining", "token" and specifies the General rules for regulating the operations of ICO-issue of tokens to raise funds for financing projects proposed by token issuers. "It is established that the tokens can be changed into Russian rubles and foreign currency, but the possibility of their exchange for cryptocurrency will be determined by the Central Bank, — explained Anatoly Aksakov, the head of the state Duma Committee on the financial market. "At the same time, the Central Bank is given the right to set restrictions for investors on investing crypto-tools." The bill was developed with the participation of the Ministry of Finance and discussed with the Central Bank. In the first reading, the initiative is scheduled to be considered in the first reading at the plenary session on may 22.

As earlier Anatoly Aksakov explained to the "parliamentary newspaper", tokens are already actively used in the market and the bill proposes to fully legalize them. Thus, the financing of projects through the release of tokens will go through a legal platform. Now there is no law and there are many scammers in this area, said Anatoly Aksakov.