On 1 January 2020 new Federal Law No. 259-FZ “On fundraising through the investment platforms and amendments to the other legal acts of the Russian Federation” will enter into force (Law on Crowdfunding)
Subject matter of the Law on Crowdfunding – legal relations between the operator of the platform, the investor and the fundraiser within the investment platform in connection with issue and turnover of:
Token is a digital right to request:
Tokens can be disposed of (including pledge setting) only on a special investment platform.
Tokens’ recording: tokens can be recorded by the operator of the investment platform or the depository.
Tokens can be certified by security – e.g. digital certificate issued by the depository.
Requirements to the members of the platform:
Structure of relations: fundraiser and investor enter into the services agreement with the operator, which grants them access to the investment platform for their interactions. After that, they enter into the investment agreement regulating fundraising.
Standard crowdfunding process:
Types of investments using investments platforms:
Limitations on the fundraising: the maximum amount for fundraising within one year is 1 billion Rubles per person (excluding public joint stock companies conducting fundraising through tokens sale).
 Federal Law No. 259-FZ “On fundraising through the investment platforms and amendments to the other legal acts of the Russian Federation”