Experts calculated the loss of the Russian economy from the ban of the ICO
The Russian economy may lose this amount this year for the reason that it has not yet passed a law on the regulation of the Crypto-Currency and ICO. The corresponding report was presented by RACIB, Kommersant reports
Experts believe that regulating this economy will provide an opportunity to save most of the money in the Russian Federation. Business people will still conduct business in those states where there are benefits and clear, transparent regulation of the sphere.
About this "Kommersant" writes referring to the report of the Russian Association of Crypto-Currency and Blockbine (RACIB).
Professionals of RACIB ascertain that the funds raised through the ICO are increasingly being redirected to other jurisdictions and bypassing the Russian economy. At the same time, projects from the Russian Federation account for about 10% of the global ICO market, the report says. Last year, the share of funds attracted by Russian projects also amounted to 10% of the total world turnover of tokens, exceeding $ 310 million. In 2014, the result of the Russian market is about 10 percent of the world turnover, which exceeds 310 million dollars.
According to the latest available information, at present there are no less than 75,000 mining enterprises and at least 50,000 block-developers in Russia. In total, about 2 and a half million people take part in this sphere
By the end of autumn of 2017, RACIB estimated the economic losses from foreign ICO Russian companies at 18 billion rubles. at the very beginning of the year. By the middle of the winter of 2018, the Ministry of Finance and the Central Bank submitted draft laws "On Digital Financial Assets" and "On Alternative Methods of Attracting Money Investments (Crawfunding)."
It should be noted that on March 20, a legislative draft concerning the virtual currency was submitted to the State Duma. The document provides for only one type of transaction - the exchange of tokens into rubles or foreign currency. The RKKIB criticized this initiative, noting that it will create advantages for foreign investors. "So far, initiatives are oriented not so much to fixing ICO and blocking technologies in the legal field, but rather to oblige them to pay taxes from this activity," he notes.
At the end of January, the Ministry of Finance of the Russian Federation published a draft law "On Digital Financial Assets" regulating crypto-currencies in the state. Moreover, Russian legislation does not know such concepts as crypto-currency mining, tokens, smart contracts, blocking, etc. As a rule, people stop their own choice either in states with a consistent regulator - Switzerland, Liechtenstein, Singapore, or in states where the regulator " behaves quietly, "and this is all offshore jurisdictions, he argues. Garkusha recalled that the position of Russian departments in this field has changed very many times to believe that it will not change again.
A source: bun.com.ua