Hello all!
Cryptocurrency world is not standing still, and AraneoBit is watching it closely. In our today’s digest you can find the most important crypto events in Russia, new events and the recents ones.
For sure you have already heard the story about the mysterious whitepaper of Telegram Open Network (TON). The document signed by Nikolay Durov was released in early January, but still there are no statements neither at the official website nor in the interview of Pavel Durov. Meanwhile, the project created much excitement and apparently, raised much funds (4 billion USD already!). 132-page document similar to a serious scientific article, describes different generations of blockchain, the services that are planned to be launched on Telegram base, the main difficulty — load partitioning and, of course, the Gram tokens. Let us remind you that Nikolay Durov is a developer of algorithms for “VKontakte” and Telegram services. The algorithms make possible to distribute the load in the system with hundreds millions of users.
To learn more about the project in English please check the link:
http://zefir.site/wp-content/uploads/2017/12/ton-tech.pdf the brief summary in Russian can be found there:
https://golos.io/ru--blokcheijn/@devolanov/ico-ton-white-paper-na-russkom.
It is worth to mention that among the blockchain based services there is a TON Payments service that allows to make crypto payments with Telegram. We knew this was a working idea, friends!
The enormous controversy has been raised around the project of the law regulating the cryptocurrencies. The project is available at the website of the Ministry of Finance from January 25 (if you have not yet seen it, check it at
https://www.minfin.ru/ru/document/?id_4=121810&order_4=P_DATE&dir_4=DESC&is_new_4=1&page_4=1&area_id=4&page_id=2104&popup=Y)
The Ministry of Finance proposed to handle all the transactions with tokens through the “exchange operator of digital financial assets”, in other words, with high fees and other bureaucratic complications. The payments in cryptocurrency still will have no legal force. The tokens issued during the ICO will be classified as securities, and the requirements towards the ICO will be more strict. In short, this seems to be a harsh project that already caused a lot of critical objections from crypto community. For example, the authorized representative of the President of Russia on business affairs Boris Titov declared that such kind of a law will be too severe in comparison with the other countries where the cryptocurrency is regulated (Japan, Switzerland, Belarus, Armenia).
The Central Bank supported the ideas of the Ministry of Finance, but objected against listing cryptocurrencies on exchanges. The reasons were that in this case the swindlers would have much more and easier possibilities for money laundering.
However, the Central Bank approved the idea to exchange the tokens issued during ICOs, to fiat money. This will help to attract investors’ funds to the country. By the way, according to Forbes, there were 234 ICOs in Russia in 2017 with 3,7 billion USD raised. Russia holds the second place in the world in terms of the raised funds during the ICOs.
The deputy of the Duma from the KPRF fraction Rizvan Kurbanov proposed one more legislative project which offers to create a CryptoRouble and to make it a legal payment method on the territory of Russia. But, judging by the Central Bank statements, cryptocurrency will not become a national digital asset soon enough.
Is it good or bad, we do not know yet. Good to know that the ICOs on the territory of Russia will not be banned, this means that AraneoBit project will keep working and will solve the problems as they arise.
Stay with us and be tuned with AraneoBit!
https://t.me/AraneoBit_En