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Biggest ICO Scams in Russia – $150 million went to invisible Pyramids with Fake ICOs

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Biggest ICO Scams in Russia has been reported,  Russia is having one of the biggest funding in ICO. Russian ICOs has collected nearly $150 million worth of cryptos. Half of the ICOs published from Russia are scam. “Money in Russia is Burning – Half of the Coins Went to Egyptian Pyramids”

The sixth largest Economy in the world wide Russian Exchange Market attracted the ancient structures namely Pyramids. There are more than total of $300 million people in the open space are the part of Initial Coin Offering. In Proportional to Indigenous Peoples of Russian Association of Crypto Currency and Blockchain Russian ICOs account for 10% of global volume. The whole country is functioning on ICO Standards and guidelines. This project will help the investors to distinguish real projects from fraudulent schemes. The portal is a source of information and news about Bitcoin and crypto currencies. Although it is disappointing that the Supreme Court and authorities along with Russian Federation as overturned the decision by the Russian authorities to take down portal.

Although there are 1000+ crypto currencies available in the market right now.

  • RACIB – Russian Association of Crypto currency and Blockchain focuses on Development of regulatory rules for crypto-exchanges and the security technologies development announced a plan to fight financial fraud in token sales. Close to $400 million USD raised from initial coin offerings have been lost or stolen, a new research has found.
  • The association expects Russian projects to attract $1-1.5 billion USD in 2018. Russian Bitcoin on Monday ICO and Russian Federation acclaimed that near about $150 Millions Dollars are collectively collected by Ancient Pyramids.

This is a causing and happening issues and the financial market of crypto currency wishes to take advantage from them on the contrary. This climatic change in the open market of Russia has two factors in consideration which are granted in negatives – Investments and other RACIB working on fronts. This re-fashion and change in Russian Bicoin will certainly seek help from Jurisdiction for Crypto Business. RACIB is also preparing an “Scam ICO standard” to help investors distinguish real ICOs from fraudulent schemes. RACIB will verify if the company has a website with information about previous projects.

The s a long-running high-circulation daily broadsheet newspaper in Russia namely Izvestia says the ICO- Russian coin will be judged several number of times. The team will also consist of credible and Finance Team Members. This will also identify the authoritative report or guide the market of ICO in Russia.Additionally assuring theStart-ups will be expected to announce a minimum rate of return of the investments.

  • Apolitician and economist Mr. Anatoly Aksakov, this week announced the public launch of the feature services and regulation of Initial Coin Offering.TokenMarket is the leading platform for listing tokens and he introduced the self-regulations too.
  • Up till now Token salesare, quite simply, a process of generating and selling a new crypto currency. According to Stemming from the Securities Act of Russia a qualified investors who has a special status under financial regulation laws should permit in Trading. These law abiding investors should not be banned from Crypto Currency.
  1. Teimuraz from Russia has an extensive professional experience in Investments area and is an experienced lecture says that “Citizens can lose money not only because a project might be fraudulent, but also because they don’t understand crypto currencies very well,” Investments in tokens can be highly risky, he adds.
  2. Igor Nikolaev a famous singer and Russian composer and writer said the obvious and transparent market will less the frauds and fraudulent system. There is a corresponding blindness amongst proponents of Bitcoin he governs and even said “Bitcoin has some real problems as a currency”. By ending this he proclaims further “the potential of digital currencies is limited due to the reluctance of central banks to recognize them as means of payment”.

Commonly abbreviated in Russian as State Duma consisting of Federal Assembly of the Russian Federation biggest scam ico, Lower House has accepted “On Digital Financial Assets” drafted by Russian Ministry Of Finance. A draft law on “Digital Financial Assets has been submitted to the Russian State Duma, TASS Reported. The Bill provides for only one type of transactions that owners of such assets can commit and exchange foreign currency. The TASS is a Russian News Agency and one of the largest news agencies worldwide, along with Reuters. Very soon a part of the money is likely to come in the form of crypto payments. Forth coming even the Football Fans will be able to pay with Bitcoin for their accommodation when they visit Russia for this year’s World Cup. Dazzling amusing the ownership Mixed Economy of Russian Crypto Currency interrogated – Can we Buy WORLD CUP TICKETS from CRYPTO CURRENCY.

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