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Central Bank of Russia will impose restrictions on the purchase of cryptocurrency, comments State Duma

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The Central Bank of the Russian Federation expects to introduce a certain limit for citizens to purchase digital currencies.

It clarifies the agency RBC, referring to the Central Bank amendments to the draft law on cryptosphere, unqualified investors will have the opportunity to acquire cryptocurrency , but the regulator proposes to prohibit the purchase of tokens in excess of the established quota.

Anatoly Aksakov, who heads the State Duma Committee on the Financial Market, said that the regulator had already sent a proposal to introduce a limit on the purchase of cryptocurrency to parliament. In the near future, deputies of the lower chamber will discuss the feasibility of adopting these amendments.

It is worth noting that Russian President Vladimir Putin demanded that the parliament speed up work on adopting a law on regulating relations in the cryptocurrency industry. The State Duma deputies should accept this document until the beginning of July of this year.

In the near future, the regulator plans to agree with the parliament the maximum amount of coins that an unqualified investor can acquire. It is quite possible that the Russians will be able to spend no more than 600 thousand rubles annually for the purchase of tokens, this is exactly the amount that is spelled out in the crowdfunding bill.

When forming the limit, the regulator will be guided by such criteria as – the amount of fiat money spent on the purchase of cryptocurrency and the total value of digital assets transferred to the platform.

In the State Duma explained what the limit on the purchase of cryptocurrency means

Anatoly Aksakov commented on this initiative. According to him, restrictions on the purchase of cryptoactive assets by Russians, who are not qualified investors, will affect only participation in the ICO. In an interview with TASS, the head of the State Duma Financial Market Committee said:

“In fact, there was some kind of misinterpretation. I meant that there may be restrictions on investing in projects that are hosted through investment platforms, including the use of blockchain technology . The point was to protect our unqualified investors from investing in risky projects, because the investment platform will use a more liberal mode of placing financial assets than, for example, the stock exchange. ”

However, the deputy did not rule out that restrictions in the future could also affect cryptocurrency, but so far “such approaches”, he said, are not being worked out. Aksakov explained:

“Cryptocurrencies, if we mean, for example, Bitcoin, here we are at the initial stage of regulating the issue. The law “On digital financial assets” will be the starting point, but so far we have not approached the approaches to regulating this topic. ”

Today, in an interview with Izvestia journalists, Murad Salikhov, Advisor to the Board of the Financial Innovations Association, stated that the Central Bank’s attempts to limit cryptocurrency purchases by unqualified investors are aimed at “suspending financial transactions that are conducted without government control through a system in which there were no clear boundaries and rules. ”

“The top line of the volume of cryptoactive assets for unqualified investors will be 600 thousand rubles. This and other measures that are currently being taken in Russia in an attempt to control the blockchain and the systems associated with this technology are being introduced to regulate digital civil rights objects , ”said Salikhov.

According to him, we are talking about rights, since the concepts of “digital money” and “digital currency” will not exist in Russia in the near future. This will only complicate the process of legalizing the cryptocurrency industry in Russia, the financier noted. He explained:

“Now the cryptobranch and, accordingly, the turnover of funds within it are still semi-legal, therefore restrictions on purchases of cryptocurrency and approval of digital rights, which are now first read, are introduced solely to stabilize the situation and suspend the pace of financial transactions that are carried out without government control. a system that has not yet established clear boundaries and rules. ”

Today, Anatoly Aksakov, answering the questions of deputies in the State Duma, said:

“We do not introduce the concept of digital money into legislation and are not going to introduce it yet. We removed this concept in preparation for the second reading of the draft law “On digital financial assets”. There are fears that this electronic money may “erode” our monetary system, create a lot of problems, and, as we see, the situation in the cryptocurrency market is unwinding now not in favor of such currencies, the “hyip” is passing, and life shows that we really need to act carefully. We will continue to debate. Now the FATF Commission (the Financial Action Task Force on Money Laundering) is working in Russia, and in cooperation with the FATF Commission, we will propose a bill that will propose regulation of cryptocurrency, but what regulation it will be is not yet clear. ”

Publication date 13.03.2019
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US SEC Commission: Some Stablecoins May Be Recognized to Securities

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According to Valery Schepanik, senior consultant for digital assets of the United States Securities and Exchange Commission (SEC), the norms of securities legislation may apply to certain types of glasscoins . Reported Decrypt .

According to Shchepanik’s classification, one stablecoin can be tied to real assets like gold or real estate, the other to fiat currency, and the third to use various “financial mechanisms that support price stability.” It is the third category, in its opinion, that can become the object of close attention of the regulator.

“I came across steyblokinoy, the value of which controls a certain pricing mechanism associated with the emission, creation or redemption of another type of digital assets tied to them. Or, it is supported by control over the ratio of supply and demand in order to keep prices in a certain range , ”said the SEC representative.

According to her, if the central side controls the steakblock's price volatility, or if the buyer is promised a guaranteed income or a controlled price, such an asset can be recognized as a security.

She noted that the agency applies equally to all cryptocurrency projects. Shchepanik also emphasized that companies should contact the agency for consultation before the release of the token , and not after:

“We would prefer that people turn to us for permission or advice before they do something, rather than do something first, and then come to ask for forgiveness.”

Publication date 18.03.2019
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Japan will consolidate the rules for cryptocurrency in the category of "cryptographic assets"

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The Cabinet of Ministers of Japan proposed amendments to the laws “On Financial Instruments and Exchanges” and “On Financial Settlements”. Thus, it is planned to consolidate a number of norms regulating the market for digital assets.

The Law “On Financial Instruments and Exchanges” is aimed at ensuring the transparency of markets and the safety of investors. It contains clear requirements for operations with derivatives and securities.

Several points may be added to Japanese law.

So, it is proposed to make cryptocurrency in a separate category – “cryptographic assets”. This is consistent with the definition adopted by the G-20 countries. Companies that deal with their exchange will receive the status of "agents for the exchange of cryptographic assets."

Cryptocurrency exchanges may be required to keep clients' funds in cold wallets. If for these purposes it is necessary to use the infrastructure that is connected to the Internet, then the assets should be provided with their own funds of the exchange.

Margin trading of digital assets is proposed to regulate by analogy with the markets of foreign currencies.

"In addition, cryptocurrency companies can prohibit the use of promotional materials that encourage speculation and indulge in dishonest practices (price manipulation, insider trading, etc.)."

Publication date 18.03.2019
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Ledger Nano S Wallet Receives Certificate of the French Cyber Security Agency

Ledger Nano S was the first hardware cryptograph certified by the French Information Systems Security Agency (ANSSI). Ledger is proud to announce that it is a wallet! The obtained CSPN certificate shows a third-party assessment of security, rather than taking our word for it. Read more here: https://t.co/PYrRcFt15u#DontTrustVerify […]

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Ledger Nano S was the first hardware cryptograph certified by the French Information Systems Security Agency (ANSSI).

As noted in the company's blog, the process of obtaining the first level of a security certificate involves evaluating a product according to several criteria, including "firewall, identification, authentication and access, security of communications and embedded software."

“We are proud to announce that ANSSI has passed independent certification ,” said Ledger CEO Eric Larshevek. “ For Ledger, safety is paramount.”

He also promised that his company would make an effort to certify the rest of its products.

Recall, recently the French manufacturer of hardware wallets Ledger reported vulnerabilities from its competitor Trezor.

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