In early August 2024, several significant changes to digital law were adopted. Below, we outline the most important updates.
Mining, cryptocurrency and digital financial assets
On 8 August 2024, Law No. 221* and Law No. 223* were passed, amending several legislative acts, including the Law* on Digital Financial Assets (“DFAs”) and digital currency.
Mining
Law No. 221* legalises digital currency (cryptocurrency) mining, which is defined as performance of mathematical calculations using technical means, software and hardware to issue/obtain digital currency.
The Law permits mining, subject to inclusion on the register of mining entities (the same applies to mining infrastructure operators). Mining can be carried out by companies, entrepreneurs and individuals, though individuals may not act as mining infrastructure operators. Mining entities are required to provide an authority designated by the Russian Government with information about receipt/issue of digital currency resulting from mining. This information is then reported to the Federal Service for Financial Monitoring (Rosfinmonitoring) and the Central Bank of Russia.
DFAs
Law No. 221* establishes rules for foreign holders to use Russian DFAs, as well as the procedures and conditions for circulation of foreign digital rights within Russia.
Individuals are prohibited from acquiring foreign digital rights (unless the Central Bank of Russia determines otherwise).
It is also prohibited to advertise DFAs if the list of purchasers is limited to specific individual entrepreneurs and legal entities.
These amendments came into effect on 19 August 2024.
Experimental use of cryptocurrency in international transactions
Law No. 223* authorises the Central Bank of Russia to establish experimental legal regimes (“ELRs”) for international transactions (payments) using digital currency.
Under ELR, special regulations may be established that differ from the provisions of the Currency Regulation Law*, the National Payment System Law*, the Organised Trading Law* and the Law on DFAs and Digital Currency*. These special regulations will be detailed in the ELR programme.
The law on processing anonymised data
On 8 August 2024, Law No. 233* was adopted to regulate processing of anonymised data.
Registration of bloggers
On 8 August 2024, Law No. 303* was passed amending several legislative acts, including the Law on Information*.
As per the amendments, the Federal Service for Supervision in the Sphere of Communications, Information Technologies and Mass Communications (Roskomnadzor) will maintain a register of personal social network* pages (accounts) on with over 10,000 followers. The followers count is calculated per social network.
Laws banning “trash content”
On 8 August 2024, Law No. 216* was adopted; this amends the Law on Information and other legislative acts.
The amendments expand, to include so-called “trash content” on the list of information that it is unlawful to distribute. This is content that is offensive to human dignity and public morals, shows clear disrespect for society, contains images of actions perceived as illegal (including violence), or is distributed with hooliganistic, self-serving or other base motives.
Social network owners are now obliged to monitor and restrict such information.
Additionally, the Law also makes it unlawful to distribute information if its dissemination is restricted by a presidential decree. When such content is detected, access must be restricted accordingly.
New FAS guidelines on compliance with mandatory advertising requirements
The Federal Antimonopoly Service (FAS) adopted Decrees No. 410/24 dated 20 June 2024* and No. 412/24 dated 21 June 2024*, approving the following guidelines clarifying the requirements on advertising:
In these guidelines, the FAS reiterates the positions outlined in previously cancelled letters and added some new provisions.
* In Russian
