Russia has lost 18 billion rubles for not regulating the ICO’s

Numerous investigations assume that in the course of 2017, the Russian economy has been deprived of 18 billion rubles – the equivalent of 310 million dollars – thanks to the fact that no scrutiny has been launched for the supervision of the Initial Offers of Coins (ICO’s). This was revealed by the presidential adviser on Internet development in the nation, Herman Klimenko, taking advantage of a meeting with the newspaper Tass.

But where did the calculation come from? The estimate came from the Russian Association of Blockchain and Cryptocurrency (Rabik), an organization created in August to promote the union between supporters of electronic currencies, including miners and investors. In the words of Klimenko:

Rabik has estimated economic losses close to 18 billion rubles, due to the absence of a regulatory framework on the Initial Offers of Currencies (ICO’s). Since the beginning of the year, 3.5 billion rubles have not been received as tax revenues.

Also, the Internet specialist said that they found the calculation thanks to the ICO’s made by Russian citizens in foreign jurisdictions, between the months of January and October. According to Klimenko: “This money could have been used for new parking lots and tow trucks in Moscow.”

It is important to mention that digital assets are not subject to regulation in Russia. However, President Vladimir Putin called a meeting last month and ordered the Prime Minister and the Central Bank to have the regulatory scrutiny for ICO’s and electronic currencies ready by July 1, 2018. Although the bank’s main banking authority The country has warned the population about the risks of investing in offers of tokens, Deputy Prime Minister Igor Shuvalov has made it clear that the regulations do not mean that the ICO’s will be taken in Russia.

It should be added that several of the offers of coins made in the first half of 2017, ended up playing an important role in the $ 2.3 billion that so far have been collected in ICO’s worldwide. The Rabik estimates that Russian companies have made a not inconsiderable amount of $ 293 million in sales of tokens, which is much higher than the $ 128 million associated with risk investments that in 2016 were registered in the country … this data It was published by the Innov media.

According to what was published in the newspaper Rusbase, the largest ICO in Russia is a project orchestrated by the Ombudsman – so called the Ombudsman – of the Internet, Dmitry Marinichev. Such is the case that the sale of its currency, Russia Miner Coin (RMC), collected 43.2 million dollars, while the proposal called Polybius was made with $ 31 million and was among the first five places of the ICO’s most important in the country.