The Finance Ministry of Russia proposed to limit the amount of one ICO to 1 billion rubles


The Ministry of Finance proposes to introduce a limit on the maximum allowable amount of funding attracted by start-ups through the initial placement of tokens (ICO). This was announced by Deputy Finance Minister Alexei Moiseev.

“Maximum through the ICO will be possible to attract 1 billion rubles. One unqualified investor will be able to invest a maximum of 50 thousand rubles. By qualified restrictions will not be, “- quotes his words TASS.

This item among other things is registered in the new draft law on the regulation of the cryptocurrency market, which will be submitted on December 28 and may be adopted as early as March of the next year.

“We want to make the bill as direct as possible and minimize the reference to the norms of the Bank of Russia so that the regulation of the ICO does not become another currency control. So that any student of IT can read and understand what is needed, and that is not necessary. That is, the bill will be very simplified,” Moiseev added.

Recall, Russian President Vladimir Putin instructed the government and the Central Bank to prepare, before July 1, 2018, amendments that would allow the process of issuing, mining, and circulation and sale of cryptocurrencies, including through the ICO, to be introduced into the legal field.

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