On February 27, a bill was submitted to the State Duma. The law…
On February 27, a bill was submitted to the State Duma. The law equates them with bank deposits for insurance protection purposes: electronic money systems of persons who have concluded an agreement with a bank on providing services for transferring electronic monetary funds will be considered as deposits, and owners of such funds will be considered depositors.
Consensus
- The State Duma passed a law expanding deposit insurance to electronic monetary funds (EMF) held in bank-issued e-wallets.
- The law applies only to EMFs under formal contracts with banks and after identity verification or simplified identification.
- Insurance coverage is limited to 1.4 million rubles, similar to traditional deposits.
- Claims related to EMFs by individuals will be prioritized as first-priority claims in bank bankruptcy proceedings.
- The law excludes anonymous e-wallets from insurance protection.
- The law will come into force 180 days after official publication.
- The law was introduced in February of the same year.
Points of divergence
- The initiative was led by a group of senators and deputies headed by Anatoly Aksakov, chairman of the State Duma Committee on Financial Markets. — vedomosti
- According to the Deposit Insurance Agency, the law will increase insured funds by approximately 15 billion rubles—about 0.02% of total volume. — kommersant
Coverage (4 sources)
- State Duma includes electronic wallets in the deposit insurance system — Коммерсантъ
- State Duma expands deposit insurance to electronic wallets — Ведомости
- State Duma has adopted a law on insuring electronic wallets — Коммерсантъ
- State Duma extends deposit insurance to electronic monetary funds — Интерфакс