ETHERLive
ETHERLive delivers real-time price and volume data across 16+ exchanges to users in a clear and easy-to-understand package. Users can get up-to-the-second updates for each exchange/currency pair, as well as aggregated market averages for each exchange, currency, and the market as a whole. It also provides a global converted average of all the currency pairs monitored by ETHNews, converted to USD.

---

24hr ---
--%
Thursday May 24th 2018
RESOURCES

The Basics

Learn the basics of Ethereum and various cryptocurrency technologies

Learn More

What is Ethereum?

Understand the underlying principles of the Ethereum Platform

Learn More

The Blockchain

Discover the revolutionizing technology known as the blockchain

Learn More
SUBMIT

Press Release

Submit a press release for consideration on ETHNews

Submit Press

Story / Dapp

Submit a story or DAPP to be considered for publication on ETHNews.

Submit Story

Explanation

Submit "Ethereum Explainer" content for consideration to be featured on ETHNews

Submit Topic
ETHNews Logo
---
--%
Home
News
Etherlive
Ether Price Analysis
Resources
Contact Us

Russian Government Pledges Support For ICO Bill Pending Minor Changes

By

Adam

Reese

WriterETHNews.com

Russia’s executive branch has weighed in on a proposed bill to regulate ICOs, offering several suggestions on how to improve it.

The executive branch of the Russian government has issued a statement pledging to support a bill that would regulate ICOs, entitled "On alternative ways of attracting investment (crowdfunding)," provided that certain changes to the proposed law are made, or at least considered.

Submitted on March 20 to the State Duma, the lower house of the Russian legislature, the law had already been modified from an earlier draft version, first published on January 25.

The April 21 document calls for a series of minor adjustments to the bill's language; to the ways in which it refers, or fails to refer, to other legislation that has been proposed or is already on the books; and to some particular provisions. All the changes appear to be relatively insignificant in that they seem unlikely to have a consequential impact on the proposed regulatory framework.

The requested revisions include writing into the bill the maximum annual amount that investors who are "not qualified" can put into ICOs (600,000 rubles worth of funds, or about $9,630 at press time) rather than referring to another bill in which that amount is listed, and providing more details relating to proposed "inspections by the Bank of Russia of the activities of investment platform operators." The statement also notes that certain "terminology used in the draft law needs to be improved."

The announcement concludes with the following proclamation:

"The Government of the Russian Federation supports the bill, subject to its revision, taking into account these comments, for consideration by the State Duma of the Federal Assembly of the Russian Federation in the second reading."

A couple of days before the statement was published, it emerged that Russian officials are considering establishing a cryptocurrency fund in Crimea that would allow foreigners to invest there despite sanctions on Russia.


Translations by Google.

Adam Reese

Adam Reese is a Los Angeles-based writer interested in technology, domestic and international politics, social issues, infrastructure and the arts. Adam is a full-time staff writer for ETHNews and holds value in Ether, Bitcoin, and Monero.

ETHNews is committed to its Editorial Policy

Like what you read? Follow us on Twitter @ETHNews_ to receive the latest Russia, ICO or other Ethereum law and legislation news.