Russia's Finance Ministry prepares roadmap for asset tokenisation pilots

Russia's Finance Ministry is preparing a roadmap for three experimental legal regimes covering movable assets, corporate rights and selected products traded on the St Petersburg commodity exchange, deputy financial policy department director Dmitry Frolov said.

The movable-assets pilot still requires the parameters of its legal regime to be defined. Tokenising corporate rights, including stakes in limited liability companies, will require targeted legislative amendments, according to the ministry's statement reported by Interfax.

The work follows a real-economy asset tokenisation concept approved by the government in February. Financial policy department head Alexei Yakovlev said in May last year that existing digital financial asset issuance platforms could host the experiments.

A law governing digital currencies and digital rights took effect in Russia on September 1, establishing rules for these assets. Some provisions have later implementation dates.