The State Duma offers 2.5 million rubles for the study of cryptocurrency

On the procurement site of the State Duma of the Russian Federation published information about the purchase №0173100009617000107 . This is an open competition for the provision of services for expert-analytical research. Research topic: “Legislative regulation of the introduction and practical application of modern financial technologies. Analysis of international experience and modalities of adaptation in Russian practice ". Purchase amount - 2 498 800,00 rub.



If the topic is of interest to the State Duma, then we can assume that the adoption of laws regulating this field of activity is being prepared. Actually, this is stated in the tender documentation. The purpose of the study is to develop, on the basis of a critical analysis, foreign experience in the implementation and practical application of the latest financial technologies, models of their adaptation to use in the Russian financial market.



The technical assignment explains that one of the objectives of cryptocurrency regulation is to protect the financial market from "threats to sustainability that carry new financial technologies in view of their anonymity."

“The rapid processes of the emergence and spread of new financial technologies in the economic turnover and, above all, in the financial sphere, dictate the need to increase the role of the state in the legislative support of their regulation and introduction into economic life. Their appearance and rapid development breaks down barriers to entry into the financial services market and stimulates the emergence of new business models from existing financial market participants, as well as leads to the emergence of new participants in this market. In this regard, actual monitoring of the latest financial technologies with the elaboration of models of their adaptation to Russian conditions is demanded, so that, on the one hand, under the influence of strict regulation, not to destroy the spread of promising financial technologies, to avoid the appearance of bubbles on their basis that can compromise them, gently integrate the most promising of these, taking into account the possible consequences for market participants, on the other hand, to protect the financial market from threats to sustainability that new financial taking into account their anonymity, the possibility of financing terrorism and obtaining illegal income, protect the interests of consumers of financial services, and avoid regulatory arbitrage on the financial market. ”

Examination includes, inter alia, comparing the laws of different countries, analyzing the use of ICOs and developing proposals for countering threats and risks with government regulation instruments.



The results of the work will be used by the State Duma to form a package of legislative initiatives.



Any legal entity can take part in the competition irrespective of the organizational and legal form, form of ownership, location and place of origin of capital or any individual, including registered as an individual entrepreneur, meeting the requirements (no criminal record, debt to the budget, etc.).



Applications for participation are accepted from September 19 to October 10, 2017, 11 hours 30 minutes. Bid security - 5% of the maximum contract price, i.e. RUB 124,940, contract enforcement - 30% for trustworthy or 45% for suspicious contest winners.