Ministry of Communications has published rules for accreditation of ICO-projects
According to the published bill, companies with an authorized capital of at least 100 million rubles with a license to develop, produce and distribute cryptographic facilities, as well as those who have opened an account with a bank that has a license for transactions with money received from the sale of digital tokens .
According to the Ministry of Communications, a digital token is "a record in a distributed information system created using cryptographic (encryption) means that certifies that the owner of the digital token has the right to receive from the person who posted (initial release) the digital token of the initial (nominal) cost of the token, by presenting this token using a distributed information system
Accreditation of organizations that issue digital tokens will be carried out on a voluntary basis for a period of five years by the Ministry of Communications and Mass Media of the Russian Federation.
To obtain accreditation, the initiators of the release of tokens will need to comply with a number of conditions:
an organization planning the release of digital tokens must be registered in the territory of the Russian Federation, in accordance with the current legislation.
the authorized capital of the organization must be at least 100 million rubles;
the organization must have a license to carry out activities for the development, production, distribution of cryptographic (cryptographic) means
the organization must have an account opened with a bank that has been registered and obtained a license for transactions with funds received as a result of the sale of digital tokens;
Organizations applying for accreditation will have to provide approved rules for the release of digital tokens, including the following provisions:
a) the obligation of the issuer to purchase digital coins on the basis of an irrevocable public offer;
b) obligations of the issuer to issue digital tokens for Russian rubles through non-cash payment;
d) c) the obligations of the issuer to use cash received from the sale of tokens, only for purposes related to maintaining the platform and ensuring the possibility of redemption of tokens
Accreditation of organizations planning the release of tokens will be carried out on the basis of an application submitted to the Ministry of Communications and Mass Media of the Russian Federation. The basis for refusal of accreditation can serve as a discrepancy to the submitted requirements. The Ministry of Communications will decide on accreditation or refusal of accreditation within 30 days after receiving the application. The audits of accredited organizations will be held every three years during the accreditation period.