Россия запускает токенизацию реальных активов для развития цифровой экономики Translation: Russia Launches Tokenization of Real Assets to Enhance Digital Economy

The Ministry of Finance of Russia, in collaboration with the Central Bank and federal executive authorities, has formulated a concept for the tokenization of real-world assets.

The government has already approved the document, and ministries have begun implementing it.

The initiative aims to «introduce and foster digital innovations, including the active use of distributed ledgers.»

«The integration of digital technologies will enhance the investment attractiveness of assets, improve their liquidity by reducing costs and lowering entry barriers for small private investors, as well as the quality of secured loan portfolios for financial organizations,» noted the Ministry of Finance.

In the initial phase of tokenization, the following sectors will be targeted:

According to the ministry, the implementation of this concept will create a modern and competitive environment for tokenization, facilitating the diversification of investment instruments.

Moreover, the Ministry of Finance predicts the emergence of new asset classes and an increase in the liquidity of existing products.

«[…] Blockchain will replace financial intermediaries and reduce transaction costs. The application of this technology will automate the execution of orders and investment decisions, decreasing the need for human involvement and the likelihood of operational errors,» the agency concluded.

It should be noted that on February 10, the State Duma of the Russian Federation, in the third reading, approved a law establishing the procedure for the arrest and seizure of digital currencies within the framework of criminal proceedings. For these purposes, cryptocurrency is recognized as property.