Uminers

Notice Beware of scammers - Uminers respesentatives's contacts are only listed on our official website.
Please contact us through official email: sales@uminers.com. Uminers will not be responsible for any information provided by third parties

Russians to Be Allowed ICO Investments up to $9,000 per year

Russian lawmakers have revised another bill regarding the regulation of the industry built around cryptocurrencies. In its latest version, the draft law on crowdfunding sets the maximum amount of money ordinary Russians will be permitted to invest in projects such as ICOs at less than $9,000 per year.

investment

The bill “On attracting investments using investment platforms” is one of the three pieces of legislation aimed at regulating the crypto industry that were adopted on first reading by the State Duma in May. The initial text approved by the lower house of Russia’s parliament did not contain such limits. It only read that they should be determined in sub-statutory acts issued by the Central Bank of the Russian Federation (CBR).

According to the revamped draft law, private individuals will be allowed to invest through crowdfunding platforms up to 600,000 Russian rubles (less than $9,000) per year only, and a maximum of 100,000 rubles (~$1,500) per project RBC reported, quoting a copy of the document. Any investment exceeding 600,000 rubles, made by qualified investors or financial institutions, will be subject to mandatory oversight by the country’s financial watchdog, Rosfinmonitoring, in order to prevent money laundering.

The new restrictions will limit the access of ordinary citizens to initial coin offerings (ICOs). The authorities in Moscow claim they want to protect Russians from the associated risks. In a statement, the CBR warned that investing through crowdfunding platforms can lead to the loss of all invested funds. However, the limits will not apply to social and charitable crowdfunding initiatives.

Source:
news.bitcoin.com

No comments