DeCenter Meetup—How to Conduct a Legal ICO in Russia
On October 3, 2017, the main representatives of the Russian crypto market held a meeting devoted to discussing the legal conducting of the initial coin offerings (ICOs) in Russia. The organizers of the meetup were DeCenter, the largest blockchain- and cryptocurrency-related community; farm cooperative LavkaLavka; and the BioCoin platform. More than 700 people attended the event.
According to the Russian Association of Cryptocurrency and Blockchain (RACIB) experts, in 2017, the Russian economy missed out on the opportunity to earn over 18 billion rubles due to the absence of the legal framework for ICOs in the country. German Klimenko, one of the central speakers of the conference, noted that the responsibility for the development of legal norms lies with the members of the Russian crypto community only, as it is they who need to reach a consensus in the first place. Since that was exactly the purpose of the meeting, DeCenter and LavkaLavka organized a discussion panel that speakers and participants of the crypto community could use to discuss burning issues related to a successfully conducted ICO which would comply with the country’s law.
Also, during the meetup, Boris Akimov—one of the LavkaLavka’s founders—spoke about his experience of launching the BioCoin platform and BIO cryptocurrency, which succeeded and collected $16 million. The BioCoin blockchain platform, the only of its kind, is supporting the producers and sellers of natural products, and the BIO token enables one to invest in the green future of the whole planet.
Among the speakers, who joined the discussion panel and answered the questions, were:
- German Klimenko, adviser to the President of the Russian Federation on the Internet development;
- Elina Sidorenko, head of the State Duma’s working group assessing the risks of turnover in cryptocurrency;
- Roman Goryunov, president of the association of financial market participants "Nonprofit Partnership for the Development of the RTS Financial Market" (the NP RTS Association);
- Yuri Pripachkin, president of the Russian Association of Cryptocurrency and Blockchain (RACIB).