[2017-07-19] Russia To Legalize and Regulate ICOs

[Vladdirescu87]

The members of the governmental interdepartmental working group assessing the risks of cryptocurrency turnover in Russia have begun to discuss the possibility of introducing amendments to the civil law that will allow ICOs to be held in the Russian Federation.

According to reports, Russian market participants believe that the legalization of cryptocurrencies can help both large companies and small businesses that are searching for investors. The law that would allow them to launch ICOs and cryptocurrency transactions with lower expenses and fees could become a springboard for the Russian economy's take-off.

Read the full article: https://coinidol.com/russia-to-legalize-and-regulate-icos/

[1715617293]

1715617293

[SvenBomvolen]

Seems they are ready to legalize everything that will bring money to the budget from which their salaries are payed. We clearly know that not all ICOs are successful and mane people loose money at such projects, sometimes it's a very big money. So what we have now: Russia will legalize ICOs and while there are no so many complains from people they will let it work and will have it's % from ICOs activity. But the time when the situation will go bad they will just admit their activity as illegal they will just forbid it and that's it and as usual will act in front of citizens like a good cop, like: "look what we did. We admitted ICOs as illegal. No mo worries. We are good guy and work for the people". But meanwhile children and grandparents of those heads will study in Harvard and chill on Majorca.       

[aso118]

Regulation might be good for investors but developers who want to raise money may hesitate to go for ICOs. Right now there is no accountability and there are scores of ICOs. That might change if there is regulation.

[number37]

Possibly a good thing, I saw so many russian based ICOs, better have regulations and laws, so people follow the procedure and can't simply grab the proceed and disappear.

[iamTom123]

Possibly a good thing, I saw so many russian based ICOs, better have regulations and laws, so people follow the procedure and can't simply grab the proceed and disappear.

This must be something that the government is really thinking on hard. Allowing ICOs to go legal and regulated is actually helping the Russian economy since the money can come mostly from people of other countries. Now, legalization and regulation can be a two-edged sword...it can both helpful and a poison depending on the fine print details which the government may issue later.

Let's see how this whole thing can transpire. I understand that there are now many ICOs initiated by Russians and I believe they can be good in what they are doing. On the other hand, we still have to hear what SEC of USA can be saying on ICO as it has been reluctant to make any possible policy pronouncement much more start a good discussion about the ICO platform.