Russian Government Published Crypto Regulation Bill

The Ministry of Finance of the Russian Federation published draft "On Digital Financial Assets" bill
25 January 2018   427

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. 

Texas to host BitBlockBoom conference

Bitcoin, blockchain and cryptocurrency conference BitBlockBoom will be held on July 14 - 15 to discuss the disruptive technology
19 May 2018   46

Bitcoin, blockchain and cryptocurrency professionals are going to convene in Irving, TX on July 14 through July 15. Brightest minds in crypto will be talking about the true meaning of Bitcoin, the promise of a distributed ledgers, and the potential of decentralization. First wave of speakers are as follows:

The conference will be held at the Study USA. Here is what the event says about itself:

Invest in yourself. Learning about cryptocurrency today is like learning HTML in the 1990s. With the proper training you can have a career spanning decades. With the proper knowledge you can avoid scams and discover opportunities to prosper in this new industry.

The event is sponsored by Crypto Unicorn Money. To learn more about the event, you can visit the official page here.