{"id":17093,"date":"2018-06-06T11:01:25","date_gmt":"2018-06-06T11:01:25","guid":{"rendered":"http:\/\/triniti.eu\/insights\/paar-tahelepanekut-kruptoasjanduse-kohta\/"},"modified":"2026-09-16T12:27:07","modified_gmt":"2026-09-16T09:27:07","slug":"paar-tahelepanekut-kruptoasjanduse-kohta","status":"publish","type":"insights","link":"https:\/\/triniti.eu\/et\/uudised\/paar-tahelepanekut-kruptoasjanduse-kohta\/","title":{"rendered":"Paar t\u00e4helepanekut kr\u00fcptoasjanduse kohta"},"content":{"rendered":"<p>Liikvel on kuuldus, nagu oleks Eesti kr\u00fcptoraha ja ICO-s\u00f5bralik riik. V\u00f5ibolla see ongi nii, sest Eestit on tabanud ICO-de buum. Plokiahelal p\u00f5hinevatest v\u00e4\u00e4rtustest ja nende kohta tekitatud \u201etunnism\u00e4rkidest\u201c (hea omakeelse s\u00f5na juurdumiseni kasutan enamusele tuttavat s\u00f5na <em>token<\/em>) on kujunemas ahvatlev vahend avalikkuselt investeeringute kaasamiseks. <!--more-->\u00d5igus, nagu ikka, pandi aga kirja ajal, mil seda v\u00f5imalust veel ei eksisteerinud ning seega me n\u00e4iteks <em>tokenite<\/em> esmase avaliku pakkumise (ICO, ITO) kohta reegleid kehtivast \u00f5igusest ei leiagi. See ei t\u00e4henda aga, et \u201evanadest\u201c reeglitest ICO puhul \u00fcldse m\u00f6\u00f6da vaadata v\u00f5iks.<\/p>\n<p><a href=\"https:\/\/triniti.ee\/wp-content\/uploads\/sites\/2\/2018\/06\/soap-bubble-2489583_1920.jpg\"><picture class=\"wp-picture-9163\" style=\"display: contents;\"><source type=\"image\/avif\" srcset=\"https:\/\/triniti.eu\/wp-content\/uploads\/2021\/09\/zane-bormane-jpg.avif\"><img data-wp-picture-wrapped decoding=\"async\" class=\"alignnone size-large wp-image-9163\" src=\"https:\/\/triniti.ee\/wp-content\/uploads\/sites\/2\/2018\/06\/soap-bubble-2489583_1920-1024x683.jpg\" alt=\"\" height=\"683\" \/><\/picture><\/a><\/p>\n<h5><strong>Virtuaalv\u00e4\u00e4ringuid tunneb nii rahapesu t\u00f5kestamise kui maksu\u00f5igus<\/strong><\/h5>\n<p>Konkreetselt kr\u00fcptoraha puhul on kasulik teada, et<\/p>\n<ul class=\"type4\">\n<li>Kr\u00fcptoraha legaaldefinitsioon (\u201evirtuaalv\u00e4\u00e4ring\u201c) on olemas 2017. a. novembris j\u00f5ustunud rahapesu ja terrorismi rahastamise t\u00f5kestamise seaduses (RPTS \u00a7 3 p 9). T\u00e4hele peaks panema, et virtuaalv\u00e4\u00e4ringu raha vastu vahetamise ja virtuaalv\u00e4\u00e4ringu rahakoti teenuste osutamiseks on vaja tegevusluba, samuti on nende teenuste osutajad RahaPTS m\u00f5istes kohustatud isikuteks ning peavad kohaldama samas seaduses s\u00e4testatud hoolsusmeetmeid;<\/li>\n<li>Virtuaalv\u00e4\u00e4ringutega kauplemine on k\u00fcll finantsteenusena k\u00e4ibemaksuvaba, kuid sellest saadav tulu kuulub tulu saaja poolt, sh f\u00fc\u00fcsilise isiku puhul, tavalises korras tulumaksuga maksustamisele.<\/li>\n<\/ul>\n<h5><strong>ICO-le v\u00f5ib laieneda v\u00e4\u00e4rtpaberituru regulatsioon<\/strong><\/h5>\n<p>Olemuselt ei erine ICO kaudu avalikkuselt vahendite kaasamine selle traditsioonilisest eelk\u00e4ijast ehk investeeringute kaasamisest aktsiate, v\u00f5lakirjade v\u00f5i lubaduste vastu, mida v\u00f5ib teha nii reguleeritud v\u00e4\u00e4rtpaberituru kui investeerimislepingute kaudu. V\u00e4\u00e4rtpaber on traditsiooniliselt dokument, mis v\u00f5imaldab omanikul teostada dokumendis v\u00e4ljendatud \u00f5iguseid (vt definitsioon V\u00d5S\u00a0\u00a7 917). V\u00e4\u00e4rtpaberite v\u00e4ljaandmiseks, pakkumiseks ja nendega kauplemiseks on investorite huvides kehtestatud \u00fcksikasjalikud reeglid ja vormin\u00f5uded ning see toimub range avaliku j\u00e4relevalve all (vt v\u00e4\u00e4rtpaberituruseadus).<\/p>\n<p>Lepinguline investeerimine on \u00fcldise lepinguvabaduse raamides pigem vaba, ehkki investori kui n\u00f5rgema poole kaitseks kehtestatud reegleid leidub siingi. Seega esimene asi, mida ICO-t kavandav ettev\u00f5tja peaks endale selgeks tegema \u2013 kas tema poolt investoritele raha vastu antav <em>token<\/em> on k\u00e4sitletav v\u00e4\u00e4rtpaberina v\u00f5i mitte.<\/p>\n<p>Vahetegu v\u00e4\u00e4rtpaberi ja muu \u00f5igusena k\u00e4sitletava <em>tokeni<\/em> vahel tehakse l\u00e4htuvalt <em>tokeni<\/em> sisust, s.o. milliseid \u00f5igusi <em>token<\/em> omandajale annab. Kuna<em> tokeni<\/em> kui sellise kohta eraldi regulatsioon puudub, tuleb anal\u00fc\u00fcs teha v\u00e4listamismeetodil, s.o. v\u00e4\u00e4rtpaberi formaalseid ja sisulisi tunnuseid v\u00f5imalusel v\u00e4listades. V\u00f5tmek\u00fcsimusteks on seejuures, mil m\u00e4\u00e4ral annab <em>token<\/em> omanikule \u00f5iguse kaasa r\u00e4\u00e4kida emitendi tegevuses ning kas tal tekib \u00f5igustatud ootus saada <em>tokenist<\/em> tulu. Juhiseid eelneva kohta on avaldanud ka <a href=\"https:\/\/www.fi.ee\/index.php?id=21547\" target=\"_blank\" rel=\"noopener\"><span style=\"color: #008cc8;\">Finantsinspetsioon<\/span><\/a> oma kodulehel.<\/p>\n<p>Kui tegu on v\u00e4\u00e4rtpaberiga (nn <em>security token<\/em>), tuleb j\u00e4rgida v\u00e4\u00e4rtpaberite pakkumisele kohaldatavaid n\u00f5udeid, sh avaliku pakkumise korral n\u00e4iteks prospekti koostamise ja registreerimise n\u00f5udeid jt.<\/p>\n","protected":false},"featured_media":2868,"template":"","meta":{"_acf_changed":false,"footnotes":""},"person_countries":[296],"people_industries":[],"experience_practice_area":[318],"insight_category":[430],"class_list":["post-17093","insights","type-insights","status-publish","has-post-thumbnail","hentry","person_countries-eesti","experience_practice_area-pangandus-finantsoigus","insight_category-blogi"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Paar t\u00e4helepanekut kr\u00fcptoasjanduse kohta - TRINITI - \u00dclebaltiline advokaadib\u00fcroo<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/triniti.eu\/et\/uudised\/paar-tahelepanekut-kruptoasjanduse-kohta\/\" \/>\n<meta property=\"og:locale\" content=\"et_EE\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Paar t\u00e4helepanekut kr\u00fcptoasjanduse kohta - TRINITI - \u00dclebaltiline advokaadib\u00fcroo\" \/>\n<meta property=\"og:description\" content=\"Liikvel on kuuldus, nagu oleks Eesti kr\u00fcptoraha ja ICO-s\u00f5bralik riik. 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