ICO; Russia Likely De-regulated, While Japan Potentially Regulated

ICO; Russia Likely De-regulated, While Japan Potentially Regulated

  • Russia: Potential modification on investment limitation
  • Japan : ICO regulation Guideline likely by FSA

ICO regulation-related news have been a recent trend among crypto-generous countries, followed by the recent announcement by the Switzerland’s FINNA on its guideline.

Russia’s drafted law “ On Digital Financial Assets” had a number of amendments by government officials at the last month’s meeting by the Ministry of Economic Development, according to the recent media reports.

The modification included the change of the investment limitation from RUB 50,000(USD 900) to RUB 500,000(USD 9,000) per (ICO) project. The officials also suggested, Russian crypto investors should be allowed to purchase tokens in overseas, while foreign investors should be allowed to participate in ICO projects in Russia.

Meanwhile, Japan’s Financial Service Agency(FSA) has initiated a review on ICO regulation, with a possibility of revising current relevant laws and regulations, partly given the number of fraud cases in overseas, according to the local news reports.       

FSA announced the warning in  last October that ICO has a risk for the promised services and products not being provided. Japan has not yet had laws regarding with ICO process.

Japan Cryptocurrency Business Association (JCBA) and Japan Blockchain   Association (JBA) would be merged in next month for the purpose of the self regulation in the Japanese cryptocurrency market space. The new merged Japanese cryptocurrency industry association would also plan setting investor safety standards as well as ICO guidelines, according to the separate local reports.