In the edition of «the parliamentary newspaper» December 7, held an extended meeting of the Expert Council on digital economy and blockchain technologies under the State Duma Committee of the Russian Federation on economic policy, industry, innovative development and entrepreneurship on the topic: «How to enter the blockchain in the legal field?».
The discussion was attended by deputies of the State Duma of the Russian Federation, members of the Expert Council on digital economy and blockchain technologies, representatives of relevant agencies, representatives of mass media.
During the meeting they discussed issues of legislative regulation of the importation of mining equipment and holding ICO, amendments to the Federal law «On self-regulating organizations», the establishment of special economic zones in the pilot projects using the blockchain. At the moment the attitude of the government authorities such that prior to the introduction and discussion of specific rules regulating region cryptoeconomy need to define clearly the object with which you are dealing. Coordinator of the Expert Council D. V. Sazonov outlined the following position:
«It is especially important to specifically and uniquely designed the same for all the conceptual apparatus, then to understand what to carry out regulatory policy.»
The main themes of the last meeting were: the legal regulation of importation of equipment for mining in Russia, possibilities of legal regulation of the conduct of the ICO in Russia, the ranking of the projects of the digital economy and the questions on the self-regulation of the industry.
One of the primary tasks at the moment is the need for legal regulation of importation of equipment for mining in Russia, in connection with enormous potential for the development of this industry in Russia. Planned settlement activities are not themselves miners, and the entrepreneurs engaged in the purchase and provision of specific equipment, in connection with this proposed elaboration of detailed rules in respect of customs duties, notification, licensing, equipment for mining, so that it came into the country legally, as well as the introduction of regulation of activity of entrepreneurs providing such equipment.
Also, the issue of the production of such equipment and the formation of favorable conditions for small and medium businesses in this region. According to the General Director of consulting Agency in the field of blockchain technology «the World of Work mining» Vitaly Cheremenskogo:
«We see tremendous opportunities for the development of the industry, but after the proper laws and rules of law».
The problem that will be solved in the near future: “to Ensure that the migration of miners in Russia, which will create jobs and infrastructure for the placement of equipment for mining, the ability to adjust its production process equipment, to connect law enforcement agencies to ensure safety, the introduction of the customs code such as equipment for mining and establishing on it the customs duties”.
Under legal regulation of the conduct of the ICO in Russia is putting forward the principle of technological neutrality of regulation, that is, the importance of maintaining the new financing instrument, and not information it to the existing strict regulations. If you focus on world experience to date in some jurisdictions, there are only scattered regulations that different interpretations of the concept of cryptocurrencies, thus determining the attitude of local authorities to the transactions with this currency, its production and production.
For example, in Japan cryptocurrency is defined as a means of payment in Switzerland as tangible assets in England as a private currency in China as a non-monetary currency, property. In the US, the tokens can be recognized commodities or securities. And in China, South Korea and Vietnam with a complete ban on any operations with the token-ICO.
At the moment discusses several approaches to market regulation ICO: review of tokens, as the securities and sootvetstvuyushie rules for ICO; introduction of licensing requirements, duties of persons conducting a crowdfunding campaign and invest in projects; the creation of a “patent” or licenses for projects facing ICO; — regulation of the market.
According to the Director of the Institute of governance and socio-economic design “REU them. G. V. Plekhanova”, Harsh, Hope, self-regulation at the moment is the best solution for growing market of ICO, that will bring transparency and legality in this area. Within this position it is proposed to expand the Federal law on self-regulating organizations and to make some amendments.
Now developed a comprehensive independent objective method of evaluation of projects across the seven indicators to fully evaluate everything, not just speculative. These indicators for the evaluation of the overall project are: «product and a prototype of the MPV, the head of the company and the team, the technology issue token, product innovation, marketing and the influence of media trust and confirmation of cash flows disclosure of business financial models, protection and risks of the ICO». Protection of investments financial organisations, investing in developing projects through ICO, plans using the ratings to be based on the above estimates.
Gaining momentum in the cryptocurrency market does not remain without attention of the Russian government, and today worked out in detail every aspect of cryptoamnesia. So expect some quick results and finished device regulation is not necessary. It is necessary to analyse international experience and develop their legal framework, which will protect the interests of all participants in ICO: investors and startups.