A Russian company has submitted its capital contribution in Bitcoin first time in the history of the country. According to local media, the experts needed to inspect the investor’s e-wallet, to make changes in the charter fund of the company.
What Is Known About The Deal?
Artel LLC added Bitcoin into the charter fund of its company. As we know, the company has invested the amount of 0.1 BTC. At the press time, the amount is equivalent to 42,058 Russian rubles. The investor received a stake of 5% in the company for cryptocurrency investment.
To manage the process of introducing Bitcoin into the authorized capital, the company attracted a group of experts. The task of the latter was to inspect the investor’s e-wallet. According to the representative of Artel LLC, initially, the specialists of the Russian Federal Tax Service refused to register the transaction.
To solve this problem, the company perform three actions:
- Veta conducted an expert assessment of the value of the wallet which stored coins;
- “Artel” specialists drew up the act of receiving and transmitting the username and password for e-wallet;
- The parties certified documents at a notary public and submitted it to the Federal Tax Service.
However, the authority approved the transaction. The specialists of Artel LLC believe that their transaction to include BTC in the authorized capital of the company is evidence of the compliance of cryptocurrency financing with the legislation of the Russian Federation.
Representatives of the organization noted that other entrepreneurs could follow the Artel company.
As we know, the specialists at Veta company were involved in the inspection of the e-wallet. Due to the absence of the necessary legal framework, the organization’s team developed methodological recommendations for the procedure independently. There were no other similar cases in the Russian Federation before.
Status Of Cryptocurrency In Russia
Currently, the new financial instrument is outside the legal framework of Russia. The regulatory framework has been under preparation since the fall of 2017. Despite this, the relevant bill is still pending.
Against the background of the lack of a legal basis, participants of the crypto community of the Russian Federation independently propose regulatory solutions.
Recently, the Russian Association of Cryptocurrencies and Blockchain (RACIB) has proposed a new way to pay taxes to users who receive income from digital assets. The activities of miners in the country also plan to settle. Therefore, the regulator wants to oblige crypto miners to buy a patent for the operations.
The subject of cryptocurrency market regulation, obviously, gives the authorities a huge inconvenience.
It is possible that the Russian government plans to create its own cryptocurrency, like China which, however, should not violate the hegemony of the Central Bank.