Topic: [2017-11-14] Russian Central Bank Official: ICOs Have 'Huge Potential' (Read 2163 times)
November 15, 2017, 03:53:46 PM
We do not have time to react to the contradictory statements of various statesmen in Russia. And these statements are diametrically opposed. Regarding the great opportunities for holding an ICO in Russia and the availability of various ideas for young people about this, there are already a lot of complaints against Russians about a significant part of the fraudulent ICO
November 15, 2017, 01:05:19 PM
At the same time Russia's government is considering to limit the sum of ICO to 100.000 roubles (that's according to state TV-channel Russia 24). The government clearly hasn't yet decided how to react to ICO progress
November 15, 2017, 02:55:43 AM
We are indeed getting mixed signals from the authorities in Russia regarding Bitcoin, cryptocurrency and ICOs but one thing is clear is that they are recognizing the potential of the platform but are aware that it can also be abused by scam artists just waiting like vultures for their prospect victims. This is I think the same kind of evaluation that many other countries shared...and whenever there can be possible frauds the government has to come in and do something about it sometimes to the detriment of the whole platform. Recently, there are ICOs whose proponents just disappeared after getting the funds they get from innocent investors and this has to be stopped. We have to find the balance between giving space for ICO projects to flourish and the protection of innocent people so they will not get ripped off of their hard-earned money.
November 15, 2017, 02:18:11 AM
A senior official at Russia's central bank said earlier today that he believes initial coin offerings (ICOs) could drive funding opportunities for startups.
According to the state-owned news service TASS, Bank of Russia first deputy chairman Sergei Shvetsov said that the central bank would "support the development" of the blockchain funding model. It's a notable development, given that the Bank of Russia – which doesn't serve as a financial regulator in the country – had published an investor warning about cryptocurrencies and ICOs back in September.
Shvetsov was quoted as saying:
"Our country has a tremendous potential of innovations, our students, young people and entrepreneurs have the edge over any country in the world from the viewpoint of ideas, and amid the lack of classical institutions of startups support, ICO development has a huge potential to finance those ideas."
What that aid will entail exactly remains to be seen. In subsequent comments, however, Shvetsov suggested that the blockchain use case could come to be viewed as a legitimate financial activity within Russia.
"Hopefully, ICO`s will take a rightful place on Russia’s financial market," the first deputy chairman reportedly said.
Shvetsov's remarks come weeks after Russian president Vladimir Putin issued several official orders related to cryptocurrencies, including one that mandated the creation of new rules around ICOs. Whether that work will dovetail with subsequent steps from the Russian central bank is unclear at this time.
https://www.coindesk.com/russian-central-bank-official-icos-have-huge-potential/
According to the state-owned news service TASS, Bank of Russia first deputy chairman Sergei Shvetsov said that the central bank would "support the development" of the blockchain funding model. It's a notable development, given that the Bank of Russia – which doesn't serve as a financial regulator in the country – had published an investor warning about cryptocurrencies and ICOs back in September.
Shvetsov was quoted as saying:
"Our country has a tremendous potential of innovations, our students, young people and entrepreneurs have the edge over any country in the world from the viewpoint of ideas, and amid the lack of classical institutions of startups support, ICO development has a huge potential to finance those ideas."
What that aid will entail exactly remains to be seen. In subsequent comments, however, Shvetsov suggested that the blockchain use case could come to be viewed as a legitimate financial activity within Russia.
"Hopefully, ICO`s will take a rightful place on Russia’s financial market," the first deputy chairman reportedly said.
Shvetsov's remarks come weeks after Russian president Vladimir Putin issued several official orders related to cryptocurrencies, including one that mandated the creation of new rules around ICOs. Whether that work will dovetail with subsequent steps from the Russian central bank is unclear at this time.
https://www.coindesk.com/russian-central-bank-official-icos-have-huge-potential/
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