INSTRUCTION OF CENTRAL BANK OF THE RUSSIAN FEDERATION

of April 1, 2025 No. 7036-U

About additional requirements to the foreign digital rights which can be qualified as the digital rights

This Instruction based on part 3.4 of article 5 of the Federal Law of July 31, 2020 No. 259-FZ "About digital financial assets, digital currency and about modification of separate legal acts of the Russian Federation" establishes additional requirements to the foreign digital rights which can be qualified as the digital rights.

1. As the digital rights the foreign digital rights which conform to the following additional requirements can be qualified:

1.1. The foreign digital rights are issued according to applicable law based on the document (documents) containing (containing) regulations on procedure for release and (or) the address of such foreign digital rights, type and amount of the rights certified by such foreign digital rights, procedure for obligation fulfillment by such foreign digital rights, the data allowing to identify person issuing such foreign digital rights and (or) person obliged by such foreign digital rights, the description of subject of providing the obligations (in the presence) certified by such foreign digital rights, allowing it to identify (further - the document (documents) on procedure for release and (or) the address).

1.2. The foreign digital rights do not certify possibility of implementation of the rights on issued securities and (or) the right to require transfer of issued securities, which issuer or the obliged person on whom is foreign person - the resident of foreign state and (or) the territory included in the list of the foreign states and the territories making unfriendly actions, No. 430-r approved by the order of the Government of the Russian Federation of March 5, 2022 concerning the Russian Federation, the Russian legal entities and physical persons (further - the unfriendly countries).

1.3. The foreign digital rights are issued by person who is not foreign person - the resident of the unfriendly country (there is no No. 39-FZ under control of Item 1 of article 2 of the Federal Law specified in the subitem 24 of April 22, 1996 "About the security market" person who is foreign person - the resident of the unfriendly country and (or) person who can limit according to the applicable law which is the right of the unfriendly country the order the foreign digital rights which owner it is not) and (or) is not person who can limit according to the applicable law which is the right of the unfriendly country the order the foreign digital rights which owner it is not, or unilaterally to refuse obligation fulfillment, certified by such foreign digital rights.

1.4. The foreign digital rights are liability and other laws on which obliged person is not the foreign person - the resident of the unfriendly country (the foreign person who is under control of Item 1 of article 2 of the Federal Law specified in the subitem 24 of April 22, 1996 No. 39-FZ "About the security market" person who is foreign person - the resident of the unfriendly country and (or) person who can limit according to the applicable law which is the right of the unfriendly country the order the foreign digital rights which owner it is not) and (or) person who can according to applicable law, being the right of the unfriendly country to limit the order is not the foreign digital rights which owner it is not, or unilaterally to refuse obligation fulfillment, certified by such foreign digital rights.

1.5. Transfer of payments for the foreign digital rights is not performed by the foreign person - the resident of the unfriendly country.

1.6. The foreign digital rights certify obligations which place of execution according to the document (documents) on procedure for release and (or) the address is not limited to the unfriendly countries.

1.7. The foreign digital rights according to the document (documents) on procedure for release and (or) the address do not provide availability of the right and (or) obligation of person issuing the foreign digital rights and (or) person obliged by the foreign digital rights to unilaterally limit the order to the foreign digital rights which it issued (on which it shall) and which owner it is not, or to refuse unilaterally obligation fulfillment on them according to the applicable law which is the right of the unfriendly country.

1.8. Disputes over the foreign digital rights according to the document (documents) on procedure for release and (or) the address are not subject to consideration and (or) permission in foreign vessels and (or) reference tribunals (arbitration) of the unfriendly countries and (or) in the territory of the unfriendly countries.

1.9. The foreign digital rights do not certify the right to require transfer of digital currency and (or) the foreign digital rights which are not allowed to the address in the Russian Federation according to part 3.1 of article 5 of the Federal Law of July 31, 2020 No. 259-FZ "About digital financial assets, digital currency and about modification of separate legal acts of the Russian Federation", and (or) foreign securities providing the right to require transfer to their owner of digital currency and (or) the foreign digital rights which are not allowed to the address in the Russian Federation according to part 3.1 of article 5 of the Federal Law of July 31, 2020 No. 259-FZ "About digital financial assets, digital currency and about modification of separate legal acts of the Russian Federation".

2. This Instruction becomes effective after 10 days after day of its official publication.

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info