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Russian Ministry of Finance publishes draft law on digital assets and ICOs

Monday, January 29, 2018 5:20 AM UTC

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The Russian Ministry of Finance has published a draft federal law on the regulation of digital assets and token offerings, CoinDesk reported.

It defines digital asset as “property in electronic form, created using cryptographic (cryptographic) means. Ownership of this property is certified by making digital entries in the register of digital transactions. Digital financial assets include crypto currency, token. Digital financial assets are not a legal means of payment in the territory of the Russian Federation.”

The ministry has outlined a set of prerequisites for both, the issuer of tokens and the investors interested in participating in these initial coin offerings (ICOs).

According to the proposed law, persons who are not licensed under the country’s securities law “can purchase tokens in the amount of not more than fifty thousand rubles within a single issue.” Licensed investors, however, don’t have any such investment limit.

The token issuers, on the other hand, would be required to disclose key information such as the full name of the ICO organizer, the official project website and network provider, the purchase price of the issued token or the procedure determining it, among others.

The draft law could prohibit promotional activities prior to a token sale. It states (loosely translated):

“Prior to the publication of an offer for the release of tokens, the tokens that are issued may not be offered to potential purchasers in any form or by any means using advertising.”

Reports floated last month that the Finance Ministry has prepared a draft law on regulation of cryptocurrencies such as bitcoin. The draft is now required to pass legislative bodies including the Russian State Duma and Federation Council in order to become a law.

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AUSTRALIA'S S&P/ASX 200 INDEX UNOFFICALLY CLOSES DOWN 0.81 PCT AT 5,683.90 POINTS

S.KOREA C.BANK SAYS SELLS 91-DAY MONETARY STABILISATION BONDS AT YIELD OF 1.700 PCT

BENCHMARK 10-YEAR JGB FUTURES GAIN 0.11 POINT TO HIT HIGHEST LEVEL SINCE MAY 30, 2018

THAI 10 BLN BAHT, 364-DAY TREASURY BILL AVG ACCEPTED YIELD 1.77440 PCT

MOODY'S SAYS OUTLOOK FOR PHILIPPINE BANKING SYSTEM OVER NEXT 12-18 MONTHS IS STABLE,DUE TO BANKS' GOOD ASSET QUALITY,STRONG LOSS BUFFERS & AMPLE LIQUIDITY

MOODY'S SAYS PHILIPPINE'S REAL GDP WILL GROW 6.3% AND 6.2% IN 2018 AND 2019, RESPECTIVELY

RBI: AVG DAILY CASH RESERVE REQUIREMENT 4.85 TRLN RUPEES FOR TWO WEEKS ENDING NOV 23

INDIA CENBANK SAYS BANKS' CASH BALANCES 4.80 TRLN RUPEES ON NOV 10

INDIA GOVT SURPLUS CASH BALANCE WITH RBI FOR AUCTION WAS NIL AS ON NOV 16 – CENBANK

INDIA CENBANK SAYS NOV 16 REFINANCE 21.20 BLN RUPEES

INDIAN BANKS DID NOT BORROW VIA MARGINAL STANDING FACILITY ON NOV 16 – RBI

RBI SAYS ACCEPTS ALL 34 BIDS FOR 165.65 BLN RUPEES AT SATURDAY'S 2-DAY REVERSE REPO AUCTION

RBI SAYS ACCEPTS ALL 8 BIDS FOR 21.23 BLN RUPEES AT SATURDAY'S 2-DAY REPO AUCTION

BOJ offers to lend Y 7.6073 trln of JGBs on spot basis through 11/20 as a secondary source of JGBs (Offer in the morning)

THAI Q2 GDP +0.9 PCT Q/Q SEASONALLY ADJUSTED (VS +1.0 PCT STATED EARLIER) - PLANNING AGENCY

THAI Q2 GDP +4.6 PCT YR/YR (VS +4.6 PCT STATED EARLIER) - PLANNING AGENCY

THAI 2019 EXPORTS PROJECECTD +4.6 PCT - PLANNING AGENCY

THAI 2018 EXPORTS PROJECECTD +7.2 PCT (VS +10.0 PCT SEEN IN AUG) - PLANNING AGENCY

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FxWirePro: The Day Ahead- 19th November 2018

FxWirePro: Nikkei Daily Outlook

Economics Monitor

November 19 02:30 UTC Released

THGDP Growth YY

Actual

3.3 %

Forecast

4.2 %

4.6 %

November 18 23:50 UTC Released

JPTrade Balance Total Yen

Actual

-449.3 Bln JPY

Forecast

-70 Bln JPY

139.6 Bln JPY

January 31 00:00 UTC 420811420811m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Bln AR bln ARS

January 31 00:00 UTC 420811420811m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Bln AR bln ARS

January 22 19:00 UTC 432631432631m

ARTrade Balance

Actual

Forecast

-1541 %

January 31 00:00 UTC 420811420811m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Bln AR bln ARS

January 22 19:00 UTC 432631432631m

ARTrade Balance

Actual

Forecast

-1541 %

January 31 00:00 UTC 420811420811m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Bln AR bln ARS

January 31 00:00 UTC 420811420811m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Bln AR bln ARS

January 31 00:00 UTC 420811420811m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Bln AR bln ARS

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