The Russian association of Cryptocurrencies and Blockchain has offered to conduct expertise of startups before launching an ICO

Neironix

23.04.2018

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The Russian association of Cryptocurrencies and Blockchain has offered to conduct expertise of startups before launching an ICO

RAKIB Proposes ICO Startup Expertise Standards

It will be evaluated by having its own website and the rate of the discovery of plagiarism, previously realized projects and also the road map.Furthermore, The organisers should provide a whitepaper, business plan, proved viability and the minimum realized version of the project.

"These standards won’t be approval by Parliament through legislation , they will form a part of market self-regulation — the Chairman of the State Duma Committee for Financial Market Anatoly Aksakov has said. — In the Bill "About Digital Financial Assets" prescribed only common approaches to regulating of ICO, details will be controlled at the self-regulation level".

Cryptocurrency Market Trends and ICO Statistics

We will note that from the beginning of 2018 ICO startups have already attracted more than $6 billion. According to various estimates, in just one year, startups are able to collect from $10 billion to $15 billion.

According to RAKIB, in 2017 projects of tokens’ primary placement from Russia have attracted $300 million, half of this funding was stolen by malefactors. The organizations believe that this year the Russian ICO have the possibility to get up to $1,5 billion in case the branch will be more transparent and secure for investors.

We will remind, in April the expert group of RAKIB strongly criticized three draft bills about the regulation of cryptocurrencies which are pending in Parliament, noting that acceptance in the current wording will kill the emerging market.