History
2025: Declaration of Default on Digital Financial Assets
In June 2025, the Autocity network of car dealerships in Siberia and the Far East (Avtocity LLC) announced to investors a default on digital financial assets (CFA) with a simultaneous offer to exchange them for another issue - with circulation three times longer and a rate lower than for the previous issue. The company noted that it could not fulfill its obligations to produce CFA (ATC-1-DT-062025-00001), citing among the reasons the problems in the car market in Russia caused by a high key rate and rising prices.[1]
Notes
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