State Duma sets the stage for ICO in Russia

The working group in the State Duma is already discussing amendments to the legislative act that will legitimize investments in cryptocurrencies. This was told by team leader Elina Sidorenko. According to Elina, the legislation lacks some clauses on crowdfunding and agreements concluded for ICOs.

During the existence of investment activity in the world, 150 startups were launched for a total of $ 500 million. Sidorenko is confident that the state should prepare mechanisms for verifying contracts and protecting investors. She also drew the attention of officials on the fact that amendments to the legislative framework should be introduced immediately after the law on cryptocurrencies is adopted.

Recall that in May, the Klinovo farm already launched an ICO campaign. The team raised about $ 500,000. Instead of tokens, investors received commodity coupons secured by farm farm products. However, by court order, the sale of coupons was discontinued. The court found that the “Klions” threatened the Russian payment system.

In addition, a startup from Chelyabinsk called ZrCoin, which is engaged in the extraction of zirconium, raised $ 7 million from 4,000 investors through an ICO. In turn, the SONM project on the Ethereum platform replenished its assets by $ 42 million, the amount is a record in Russia.

According to experts, a new financial bubble is coming, because the issuing company does not bear any costs, but only promises an excess profit for the investor.