“I was extremely not right when he criticized bitcoin and the blockchain technology”, Neil Ferguson, cryptocurrency skeptic and author of “the Ascent of money”.
Taiwan
The financial supervision Commission (FSC) of Taiwan is planning to introduce regulation for sentences tokens (STOs). Thus the regulator plans to assist start-up companies in raising funds, and create legal protection for investors.
It is expected that start-UPS gathered in the framework of financing amount exceeding a certain threshold will be STO in a “sandbox”, which falls under a special legal regime. For STO, which attracted a small amount, the regulator intends to apply the rules that govern crowdfunding.
The total amount raised must not exceed 30 million Taiwan dollars ($973 000) per year. The individual investor has the right to invest not more than 50,000 TWD ($1 620) in one project and a total of not more than 100,000 TWD ($3 240) in a year.
Russia
The state Duma adopted in the third reading the bill providing introduction in the Civil code (“civil code”) amendments aimed at strengthening civil-law status of some scriptactive and making certainty about the legal force of smart contracts . The new version is more elaborated from the point of view of civil law regulation, but the authors of the Bill decided to abandon the fixing to the civil code, the legal status of the cryptocurrency.
The law will come into force on 1 October 2019.
France
The Finance Committee of the National Assembly believes that digital money with confidential transactions used for money laundering, terrorist financing and tax evasion.
“It is necessary to prohibit the sale and distribution of cryptocurrencies, which are designed to provide complete anonymity due to the impossibility of identification,” is Eric worth, President of the Financial Committee of the National Assembly of France.
“It is important to distinguish the uses of different digital money is needed for more effective management and protection of common interests of private entrepreneurs in this field.”
Germany
Germany’s Finance Ministry has issued a document, which contains recommendations for handling and regulation of securities on the blockchain.
The document discusses the introduction of regulation for electronic securities and release of the crypto tokens. Thus, regulation of electronic securities should not depend on technology.
Relationship to securities on the blockchain or technology of the distributed registry should be the same.
The issue of the crypto token should not be regulated, as they, according to the Law on trading in securities that are not securities, investment or other financial instruments.
