Russia Drafts Bill to Accredit ICO Issuers – Public Comments Wanted

 Russia drafts bill to accredit issuers of the OIC - Seeks public comments "title =" Russia drafts a bill to accredit issuers of l & # 39; OIC - [>]</p>
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The Russian government is in the process of drafting a bill to introduce the accreditation of initial issuers. Accredited bodies must comply with a set of rules, including having 100 million rubles capital, and are subject to inspections every three years. Regulators are currently accepting public comments on the proposal.

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Accreditation of the issuers of the OIC

 Russia drafts bill to accredit ICO transmitters - Seeks public comment "width =" 300 "height =" 300 "/> Russian Ministry of Communications and Media has submitted a proposal for 39, Issuer Accreditation (OIC) "on a voluntary basis for a period of five years," reads the document. </p>
<p> This proposal details the procedure for the accreditation of digital token-issuing organizations. It has been published on the portal of the normative legal acts of the Russian government and the regulators are currently <a href= in search of public comments on the plan.

A digital token is defined in the proposal as "a record in a distributed information system created using cryptographic means (encryption) that certifies that the holder of the digital token is entitled to receive on the part of) the token of the initial value (nominal) token by presenting this token. "According to the proposal, Tass summarized:

The organization must adhere to a number of criteria: registration in the territory of the Russian Federation in accordance with the legislation on the registration of legal persons by l & # 39; State; a charter capital of at least 100 million rubles; a license to develop, produce and distribute cryptographic funds; and a special account with a bank, obtained as a result of the sale of digital tokens.

Imperative rules

 Russia Drafting a Bill to Accredit IOI Transmitters - Seeking Public Comments "width =" 300 "height =" 175 "/> OIC Accredited Issuers must adopt a number of mandatory rules.The digital tokens at a symbolic price of any digital token holder on the basis of an irrevocable public offer, "said the news agency, and they are required to issue digital tokens for Russian rubles.They "have the obligation to use the funds received from the buyers of digital tokens, only for purposes related to maintaining the ability to fill the obligation to redeem digital tokens at a nominal price. "</p>
<p> The publication also notes: </p>
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The Department of Communications will decide on accreditation or refusal of accreditation within 30 days of receiving the application. Accredited organizations will also be subject to inspections every three years (with the exception of unannounced inspections) in order to comply with the requirements of the provision.

Despite the stringent requirements imposed on potential ICO issuers, the Minister of Communications and Media, Nikolai Nikiforov, said last week that "it is very important in all projects of the digital economy not to over regulate what has just emerged, "according to Tass, RBC also quoted:

We decided that we needed to go to accreditation and get professional organizations to implement the first real projects. Otherwise, our country will become technologically backlogged.

What do you think of this proposal for accreditation of the ICO? Let us know in the comments section below.

Images published with the kind permission of Shutterstock.

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