Published on November 14th, 2017 | by bitcoin0
ICOs Have ‘Huge Potential’ According to Russian Central Bank Official
A senior official at Russia’s central bank said earlier today that he believes initial coin offerings (ICOs) could drive funding opportunities for startups.
According to the state-owned news service TASS, Bank of Russia first deputy chairman Sergei Shvetsov said that the central bank would “support the development” of the blockchain funding model.
It’s a notable development, given that the Bank of Russia – which doesn’t serve as a financial regulator in the country – had published an investor warning about cryptocurrencies and ICOs back in September.
Shvetsov’s remarks come weeks after Russian president Vladimir Putin issued several official orders related to cryptocurrencies, including one that mandated the creation of new rules around ICOs.
Whether that work will dovetail with subsequent steps from the Russian central bank is unclear at this time.