Putin approves framework for ICO

Russian President Vladimir Putin approves a timeline for a framework that will regulate ICOs and cryptocurrency mining operations
31 October 2017   1681

According to the official documents published on the Kremlin website, Russian President Vladimir Putin signed several orders intended to regulate cryptocurrency usage within the country.

A list of assignments on kremlin.ru
A list of assignments on kremlin.ru

Thus, the orders mandate that Russian Prime Minister Dmitry Medvedev and central bank chief Elvira Nabiullina must draft regulations that bring ICOs in line with existing laws governing securities.

On top of that, the regulations that will require Russian cryptocurrency mining operations to register with the government and determine the appropriate procedure for the government to tax income garnered from those operations are to be implemented. Then, the legal status of cryptocurrencies used within the financial sphere “based on the obligation of the ruble as the only legal tender in the Russian Federation” must be determined. The tasks must be completed by July 1, 2018.

Finally, the government plans to establish a regulatory sandbox that will allow the central bank consider additional regulations for cryptocurrencies and other fintech products, as well as draft proposals for a  “single payment space” created for the member states of the Eurasian Economic Union (EAEU).

Some sources speculate that the mandate may be in preparation for the launch of the cryptoruble, a state-controlled cryptocurrency that Putin reportedly approved during a closed-door meeting earlier this month.

Bitfinex to Unveil Tokinex IEO Platform

Information on first campaign will be available this Thursday, May 23rd
21 May 2019   113

Bitfinex cryptocurrency exchange announced the launch of an IEO platform called Tokinex.

The Bitfinex blog reports that information on the first IEO on the new platform will appear already this Thursday, May 23rd. The very same initial exchange offer will take place on June 13.

What it means to be an exchange has evolved to become an entire ecosystem, not just limited to the remit of trading digital assets. We are proud to finally launch Tokinex and bring the opportunity for participation in quality token sales in a fair environment.
 

Bitfinex Team

To participate in IEO on Tokinex, users of the exchange will have to undergo KYC identification using the Blockpass mobile app. After that, investors will be able to transfer funds from the exchange to the account for the purchase of new coins on the eve of the tokensale.

According to The Block, Bitfinex plans to hold approximately two IEOs per month. In the commentary on the publication's tweet, the representatives of the exchange specified that the new platform would not charge for listing.

Earlier, Bitfinex managed to attract $ 1 billion in private IEO. The LEO token started trading yesterday, May 20.