Recommendations on regulating the circulation of virtual currencies will be considered at a session of the CSTO PA Standing Commission on Socioeconomic and Legal Issues

On October 18, 2021, the Parliamentary Centre in St Petersburg will host a session of the Standing Commission on Socioeconomic and Legal Issues of the Parliamentary Assembly of the Collective Security Treaty Organization. Aleksandr Karlin, deputy Chairman of the Committee on Constitutional Law and State Building of the Council of Federation of the Federal Assembly of the Russian Federation, will make a report on draft Recommendations on Improving CSTO Member States’ National Legislation on Blocking International Terrorism Channels; Aleksandr Markevich, deputy Chairman of the Standing Commission on National Security of the National Assembly of the Republic of Belarus, will make a report on making additions to the 2021–2025 CSTO PA Action Plan on Approximation and Harmonization of National Legislation of the CSTO Member States.

The parliamentarians will hear progress reports from representatives of legislators working on the following drafts:

– Recommendations on Harmonization of the CSTO Member States’ Legislation on the Issues of Withdrawal of Property of Citizens and Organizations during the State of War or Emergency (Requisitioning);

– Recommendations on Harmonization of the CSTO Member States’ Legislation in the Area of Civil Service Similar in Status to Military Service;

– Recommendations on Improving the Organizational, Legal and Methodological Basis for Taking into Account the Provisions of Model Acts when Improving the CSTO Member States’ National Legislation;

– Recommendations on the Regulation of Trusts on the Territories of the CSTO Member States;

– Recommendations on Regulating the Circulation of Virtual Assets on the Territories of the CSTO Member States (Combating the Spread of Cryptocurrencies and Other Electronic Payment Surrogates Undermining (Destroying) National Financial Systems).

Participants of the session will consider the budgeting of the CSTO Parliamentary Assembly in 2021 and the 2022 CSTO Parliamentary Assembly draft action plan.