Russia is trying to impose a new regulation for crypto-currencies

Russia will attack in turn to the delicate subject of crypto-currencies, and is in the process of deciding on a regulation concerning the technology BlockChain. The objective is clearly displayed : to benefit from the popularity of virtual currencies while boosting the ruble, the national currency. But the result is surprising…

A complete document

A few days ago, the ministry of Telecom and mass communications of Russian, MinComSvyaz, has issued a document to regulate the ICO. Thus, one finds, for example, that the organisers of an ICO would be accredited for a period of 5 years, that the ICO will need to be registered in the Russian federation, the share capital must be at least 100 million rubles, for which the organisers must have a bank account in Russian for the transmission of the money collected from the ICO, or that the issuance of digital tokens, should be supported in rubles only.

Pixabay – Designerkottayam / Russian regulations is currently under discussion.

Of extremely precise conditions, therefore, which could discourage some companies from launching their ICO in Russia.

Points forgotten

This document lacks precision and makes limits very compelling to start-ups who intend to settle in Russia. It therefore seems that the expected effect is contrary to what was hoped… at least That is what think Artyom Inutin, head of investment at TMT.

Pixabay – Geralt / The document issued does not meet the main expectations of investors.

Here is what he explained : “The MimComSyvaz should not manage the process within these platforms financial. Documents often leave the place to a double interpretation, and which could interfere with the process of ICO. “

And it is not the only one to remain perplexed in the face of this attempt at regulation Russian. Because the goal that seemed clear, namely to attract maximum investors and start-ups, seems to be undermined by the publication of this document.

Source : Bitcoinist