Russian Federation imposed new restrictions on ICO industry

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Russian Federation imposed new restrictions on ICO industry

Recently Ministry of finance of Russia commented that that the administrative measures, taken towards the regulation of ICOs, will radically shorten the funds, raised by different organizations by means of crowdfunding. However, the regulation will also help to reduce the number of unqualified companies and investors.

Deputy Finance Minister Alexei Moiseev stated that “Nowadays in Russia, the hard cap of 1 billion rubles [approximately $17.3 million] can be raised through an ICO, and each unqualified speculator will have the opportunity to contribute a greatest of 50,000 rubles [about $864].”

On the one hand, Russian Federation aims to protect its market and cryptocurrency community from speculations, unqualified companies and scams. On the other hand, many high-professional companies will not have a chance to run a successful token sale and to raise a sufficient amount of money for the development of its project.

While a declaration by President Putin set a due date for the control on July 1, 2018, the endeavors of officials to issue the enactment in front of calendar is a pointer of Russia’s proactive position on blockchain innovation.

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  • tetherTether$1.00
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  • nemNEM$0.068138
  • dashDash$125.18
  • neoNEO$11.40
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