🇷🇺 Russia allows digital joint-stock companies (JSCs) — what changes:

What it means:

- You can establish non-public JSCs whose shares are issued as digital financial assets (DFAs).

- The shareholder register is stored on the blockchain by a licensed registrar.

- No paper shares and no traditional depository.

Limitations:

- At the time of formation, transfer from ordinary shares is not allowed.

- The DFA format is fixed in the charter forever.

- This type of JSC cannot go public or issue other securities.

Context:

- The DFA format is seen as an alternative to an IPO for startups and small businesses.

- Potentially faster, cheaper, and more technologically advanced than the classical market.

Previously:

- DFAs on open blockchains

- CFAs secured by real estate