Russian Government Published Crypto Regulation Bill

The Ministry of Finance of the Russian Federation published draft "On Digital Financial Assets" bill
25 January 2018   129

The Ministry of Finance of the Russian Federation published the text of the draft law on cryptocurrencies prepared by it, or, as it is called in the office's edition, "On Digital Financial Assets".

Under the digital financial assets in the document are meant cryptocurrencies and tokens. The Ministry of Finance notes that they "are not a legal means of payment in the territory of the Russian Federation".

These are keynotes of the document:

  • Operators of cryptocurrency exchanges must be registered as legal entities and comply with federal laws "On the securities market" and "On organized trades".
  • Mining is an entrepreneurial activity.
  • Cryptocurrency and token are types of digital financial asset.
  • A smart contract is a contract in electronic form.
  • The organizers of the ICO should disclose information about the beneficiaries, the location of the issuer, information about persons performing custodial activities, the rights of the holders of tokens and the procedure for their implementation.
  • Unqualified investors are allowed to buy tokens, but the amount is limited to no more than 50,000 rubles. (around 900 $)
  • The exchange of crypto-currencies and tokens is allowed for other crypto-currencies, rubles and foreign currencies only through stock exchanges registered in Russia.

There is no information on cryptocurrency taxation in the Bill. 

Genesis Conference to be Held in London

Genesis Conference will cover research and development, regulation, economics and applications issues, taking place in London on February 22
21 February 2018   28

Genesis London Conference will take place on February 22, tackling the most pertinent issues in blockchain space: research and development, regulation, economics and applications.

Genesis London is a platform for researchers, developers and generally anyone interested in blockchain, and its priority is to share knowledge, facilitate productive discourse and filter out the hype.

Location: The CityPoint building, 1 Ropemaker St, London, EC2, UK
Date and time: 9:30AM - 8PM, February 22, 2018

The agenda of the conference includes Privacy and Confidentiality Techniques for Blockchains; Permissioned Business Blockchain Applications and Use-cases; Scalable, Transparent and Post-quantum Secure Computational Integrity, with Applications to Cryptocurrencies; A Rational Protocol Design Treatment of Bitcoin, and more.

The headline speakers include Patrick de Laive, co-founder of TNW; Margarita Khartanovich, head of insight at Binary District; Jack Gavigan, chief operating officer at ZCash; Jeremy Kahn, technology writer for Bloomberg, and many more.