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Briefing
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- Proposed ICO Rules – Russia's Ministry of Telecom and Mass Communications (MinComSvyaz) proposed guidelines for Initial Coin Offerings (ICOs) in country
- Accreditation – ICO organization will be accredited for five years and must be registered in Russia
- Minimum Required Capital – Must have at least 100 million rubles (US$1.7 million) of authorized capital in Russian bank account, while issuing of digital tokens should be in rubles currency only
- Investment Limits – Draft law published January 25, 2018 sets no investment limit for investors that are licensed professionals, otherwise a 50,000 ruble ($900) cap will be imposed on investors without qualification
- Transparency – ICO organizers must disclose information, such as full name of token issuer, project’s website and network provider
- No Advertising – Prohibits promotional activities, such as advertising, before token sale
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Accelerator
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Market Disruption
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Sector
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Financial Services
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Organization
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Ministry of Telecom and Communications of the Russian Federation (MinComSvyaz)
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Source
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Scott, A., "Russia unveils ICO regulations, underpinned by the Ruble",
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Jagati, S., "Russian government prepares stringent new ICO regulations",
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Zhao, W., "Russian finance ministry proposes draft law on ICO regulation",
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AcceleratingBiz analysis
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Original Publication Date
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April 2, 2018
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