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Russian lawmakers consider it necessary to create legal conditions for the development of ICO

This procedure has proved effective for financing projects.

29.May.18 8:41 AM
By Shawn Highstraw


Russian lawmakers consider it necessary to create legal conditions for the development of ICO
The attitude towards ICO in different countries remains controversial: if some experts unequivocally support this method of raising funds, others point to the minuses of this mechanism. Among the shortcomings Initial coin offering analysts called the low performance of many start-ups, as well as the involvement of investors in the financing of fraudulent schemes. By the way, as statistics show, the citizens sharing the second point of view is becoming more and more: fees for ICO in recent months have declined significantly, and the number of projects that raise money in this way, on the contrary, has grown. This trend is explained by the fact that even from an impressive amount of start-ups, potential investors find it difficult to choose the one that is trustworthy.

At the same time, lawmakers, including in Russia, talk about the importance of creating conditions for the development of this form of attracting investment. For example, the chairman of the State Duma Financial Market Committee Anatoly Aksakov said that the primary offers of coins have great potential, so the state should not ignore the need to adopt norms for the withdrawal of ICO in the legal field.

The parliamentarian also noted that while the process of raising funds through Initial coin offering is not settled, it will be extremely difficult to understand exactly how much money it can collect start-ups.

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