Will Russia make waves in Crypto this year?

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Remember when Russia and the cryptocurrency were a big problem?

Russia and the crypt seemed to go hand in hand. At least that was the case for most of 2016 and 2017. Go to a cryptic consensus event and have been sure to come across Russians talking about their "projects".

The initial offer of coins (ICO) was a favorite of Russian developers and, of course, scammers. With the ICO market virtually dead, the cryptic world in Russia is no longer what it used to be. He lost his splendor and his clamor. The president of the Russian central bank Elvira Nabiullina has recently observed as "lucky" whether his country is no longer "cryptic crazy".

This does not mean that the Russians have lost interest in the blockchain technology and its counterpart, the start of the cryptocurrency.

"Most investors have their doubts about investing in Russian crypto-startups, there are many red flags for international investors," says John Slyusarev, managing partner of SMC Capital in New York. SMC is a venture capital company that invests in blockchain startups in Shanghai, the United States and Europe. No one is based in Russia, although the European ones have Russian developers and founders. "I think that Russian projects with Russian founders have the most difficult time to find money," he says. "There were some explosions in the projects of Russian Ponzi and fraud schemes that damaged Russia's reputation".

In November, North Dakota state regulators have discovered a scam to the Russian cryptocurrency and turn it off.

In September, a company based in Russia called Coin Miner was tasked by the Texas securities regulators to have committed frauds on securities.

In May, the new Russian and Ukrainian startup Decenturion was exhibited at the Consensus in New York. They issued passports. It did not take long for the Reddit community and other Bitcoin forum participants to call it a Ponzi scheme & nbsp; The currency now trades around $ 3, according to CoinGecko, a loss of 98% since its launch last spring.

Unfortunately, the Russians seem to be affiliated to fraudulent encryption.

Despite all this, & nbsp; Asian exchanges & nbsp; they love the Russian market.

Two of the biggest exchanges are expanding in Russia. China & # 39; s Binance & Hubs based in Singapore have offices in Moscow and St. Petersburg. Their presence suggests that Russia is still a contender in the encrypted markets.

Russia has been slow in regulating the nascent digital goods market.

In 2017, there was talk of regulators of Russian securities that built a blockchain platform with developers of the Waves platform in Moscow. While Waves still exists, the Moscow stock exchange has gone from becoming a crypto trader. The waves seem to be in limbo. The news section of your web page has not been updated since 6 June.

One of the reasons why the whole blockchain / crypto market is so difficult in Russia is because the Russian Central Bank is not a fan. & Nbsp; Nabiullina is against the legalization of cryptocurrency trading for rubles and this puts a brake on the retail investment market. The central bank should devise new laws this year to clarify the business rules for cryptocurrency miners in Russia and establish the basic rules for fundraising through cryptocurrency tokens. Very little movement is expected on this last one.

According to Moscow's cryptographers, the Moscow Stock Exchange (MoEX) is in talks with Asian and European stock exchanges regarding the creation of deposit accounts to store digital assets securely.

"Once this is established, I think the central bank could accept that MoEX is the real road to the crypt in Russia," says Dan Wolfe, managing director of a cryptocurrency fund at the specialized research and investment group (SPRING) in Moscow. "There is tension between Putin and other leaders who see cryptography as a way for corporations to raise capital," he says.

ICO grows up & nbsp;

There is a new token offer in the city, and this year promises to be a big deal. Can Russians be as important in the STO world as in the ICO world?

Talk to any serious developer of Russian blockchains and cryptoxic believer and if they live in St. Pete's or at Palo Alto, they will say that the initial market for coins is what brought the Russians to the game of the encrypted startup. The Russians are now joining forces with venture capital companies to talk about the latest "project" of the encrypted world – the offer of security tokens, or STOs.

In the simplest way, not to describe the STO, it is venture capital meets the stock market meets Bitcoin (or some other currency yet to be created). It is considered the latest move to professionalize the cryptocurrency industry, an industry that has been in crisis for the last 12 months. Last December, Bitcoin was worth around $ 20,000. It starts 2019 for $ 3,817.

"I think you'll find out that about a third of the STOs will be either Russian founders or Russian developers," says Slyusarev, with a warning. "I doubt you will find that they will be launched in Russia." Slyusarev fund invested in one STO last year. He said they could invest in & more this year.

Regulatory issues will keep Russia closed to this market.

"The STO is attractive, but there are regulatory barriers to doing this in Russia," says Gregory Klumov, co-founder and CEO of STASIS.net, a tokenisation platform based in Malta. "Without access to global markets, Russia will not be able to develop a robust security token market anyway, so the STOs will not be better than the current methods of collecting and distributing capital in Russia."

The well-known developers in space, Vitalik Buterin of Ethereum & nbsp and Pavel Durov of the Telegram Open Network, a spin-off of the Telegram messaging application, are the first examples of Russian blockchain skills. Buterin has his Ether coins. Durov should launch its cryptocurrency next year, to be used in its newly developed blockchain platform.

Other less known Russians have become millionaires thanks to crypts. They travel the world, promoting projects for blockchain journalists, posting photos of themselves on their Instagram accounts, somewhere in the tropics, spending money to find themselves and perhaps an investor or two.

From a distance, it really seems that the Russian cryptographic market is in trouble. But it also applies to many other countries.

The world of ICO that the Russians have happily played is totally in ruins. The Russians know how to overcome a crisis, but the question is if they can get by through the cryptic crisis and get to a sort of blockchain biz success?

Who is willing to bet that Russia pulls this out?

"Russia is even better than Turkey, or in Argentina," says Synergis CEO Vladimir Popov. It is better known as "Menaskop" among cryptocurrency enthusiasts. He thinks that Russia can overcome the crisis and that time will lead to greater interest from local investors. & Nbsp; "Remember the 2012 crisis in Cyprus … led to one of the first Bitcoin booms.If you think you are on the threshold of another world crisis, & nbsp; something that can also be like 2008, then I see all the growth prospects of cryptocurrency as a hedging tool, "he says.

This is a mantra repeated by many. Bitcoin becomes a safe haven. Like gold So far this has proven incorrect. Gold prices are increasing. Bitcoin prices are decreasing.

The managers of cryptographic funds like Wolfe at SPRING in Moscow believe that the real investment case for cryptocurrencies "is not that things will rise in the short term, but for a fundamental revaluation of the asset class within the next five to seven years", he says. "It will be driven primarily by countries with volatile currencies". Think of Turkey. Or in Argentina.

Diego Gutierrez Zaldivar, CEO of RIF Labs in Argentina, a blockchain solutions provider, thinks Wolfe is right. Countries in emerging and frontier markets are seen gravitating towards the crypts if there is another serious economic crisis.

"This is where I think you will see more interest in digital currencies," says Zaldivar. "If it is more stable than its currency and easier to access the dollar, then why not encrypt it?"

While the Russian ruble is not as volatile as the Argentine peso, Russian politics is unstable thanks to Western sanctions and oil prices.

The Russians will be involved again in the crypt this year. It will also be the retail investors in Russia, if the calculation of Binance is correct.

But the Russian Ico have come and gone. That market is dead. STOs are new, but Russians trying to raise money in this way are installing a store in Singapore or here in the United States.

Meanwhile, the professional investor in Russia continues to cut losses.

"Now we have less positions," says Wolfe. Their Moscow fund now holds 12 tokens. They held 20 in a portfolio last October, two months before Bitcoin reached $ 20,000.

"It has been impossible to choose a winner in the last four months unless you are buying some dark currency that is probably being manipulated, and we are focusing on long-term exposure now," Wolfe says. Russian coins or no Russian coins, & nbsp; Wolfe warns that investors "should avoid this class of assets if they do not have the stomach to do it".

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Remember when Russia and the cryptocurrency were a big problem?

Russia and the crypt seemed to go hand in hand. At least that was the case for most of 2016 and 2017. Go to a cryptic consensus event and have been sure to come across Russians talking about their "projects".

The initial offer of coins (ICO) was a favorite of Russian developers and, of course, scammers. With the ICO market virtually dead, the cryptic world in Russia is no longer what it used to be. He lost his splendor and his clamor. The president of the Russian central bank Elvira Nabiullina has recently observed as "lucky" whether his country is no longer "cryptic crazy".

This does not mean that the Russians have lost interest in the blockchain technology and its counterpart, the start of the cryptocurrency.

"Most investors have their doubts about investing in Russian crypto-startups, there are many red flags for international investors," says John Slyusarev, managing partner of SMC Capital in New York. SMC is a venture capital company that invests in blockchain startups in Shanghai, the United States and Europe. No one is based in Russia, although the European ones have Russian developers and founders. "I think that Russian projects with Russian founders have the most difficult time to find money," he says. "There were some explosions in the projects of Russian Ponzi and fraud schemes that damaged Russia's reputation".

In November, state regulators in North Dakota discovered a scam of the Russian cryptocurrency and closed it.

In September, a company based in Russia called Coin Miner was accused by Texas securities regulators for having committed securities fraud.

In May, the new Russian and Ukrainian startup Decenturion was exhibited at the Consensus in New York. They issued passports. It did not take long for the Reddit community and other Bitcoin forum participants to call it a Ponzi scheme. The currency now trades around $ 3, according to CoinGecko, a loss of 98% since its launch last spring.

Unfortunately, the Russians seem to be affiliated to fraudulent encryption.

Despite everything, Asian trade loves the Russian market.

Two of the biggest exchanges are expanding in Russia. Binance's China and Singapore's Huobi headquarters have offices in Moscow and St. Petersburg. Their presence suggests that Russia is still a contender in the encrypted markets.

Russia has been slow in regulating the nascent digital goods market.

In 2017, we were talking about Russian securities regulators who were building a blockchain platform with developers behind the Moscow Waves platform. While Waves still exists, the Moscow stock exchange has gone from becoming a crypto trader. The waves seem to be in limbo. The news section of your web page has not been updated since 6 June.

One of the reasons why the whole blockchain / crypto market is so difficult in Russia is because the Russian Central Bank is not a fan. Nabiullina is against the legalization of cryptocurrency trading for rubles and this puts a brake on the retail investment market. The central bank is expected to draw up new laws this year to clarify the trade rules for cryptocurrency miners in Russia and establish the basic rules for raising funds using cryptocurrency tokens. Very little movement is expected on this last one.

According to the Moscow commercial crypts, the Moscow Stock Exchange (MoEX) is negotiating with the Asian and European stock exchanges for the creation of deposit accounts to store digital assets securely.

"Once implemented, I think the central bank could accept that the MoEX is the real road to the crypt in Russia," says Dan Wolfe, managing director of a cryptocurrency fund at the specialized research and investment group (SPRING) in Moscow. . "There is tension between Putin and other leaders who see cryptography as a way for corporations to raise capital," he says.

ICO grows

There is a new token offer in the city, and this year promises to be a big deal. Can Russians be as important in the STO world as in the ICO world?

Talk to any serious Russian blockchain developer and cryptoxic believer, and if they live in St. Pete & # 39; s or in Palo Alto they will say that the initial market for coins is what brought the Russians to the game of the encrypted startup. The Russians are now joining forces with venture capital companies to talk about the latest "project" of the encrypted world – the offer of security tokens, or STOs.

In the simplest way, not to describe the STO, it is venture capital meets the stock market meets Bitcoin (or some other currency yet to be created). It is considered the latest move to professionalize the cryptocurrency industry, an industry that has been in crisis for the last 12 months. Last December, Bitcoin was worth around $ 20,000. It starts 2019 for $ 3,817.

"I think you'll find out that about a third of the STOs will be either Russian founders or Russian developers," says Slyusarev, with a warning. "I doubt you'll find any of them launched in Russia." Slyusarev fund invested in an STO last year. He said they could invest more this year.

Regulatory issues will keep Russia closed to this market.

"The STO is attractive, but there are regulatory barriers to doing this in Russia," says Gregory Klumov, co-founder and CEO of STASIS.net, a tokenisation platform based in Malta. "Without access to global markets, Russia will not be able to develop a robust security token market anyway, so the STOs will not be better than the current methods of collecting and distributing capital in Russia."

Well-known developers in space, Vitalik Buterin of Ethereum and Pavel Durov of the Telegram Open Network, a spin-off of the Telegram messaging application, are the first examples of the intellectual capacity of the Russian blockchain. Buterin has his Ether coins. Durov should launch its cryptocurrency next year, to be used in its newly developed blockchain platform.

Other lesser-known Russians have become millionaires thanks to crypts. They travel the world, promoting projects to block journalists, posting photos of themselves on their Instagram accounts, somewhere in the tropics, spending money to find themselves and perhaps an investor or two.

From a distance, it really seems that the Russian cryptographic market is in trouble. But it also applies to many other countries.

The world of ICO that the Russians have happily played is totally in ruins. The Russians know how to overcome a crisis, but the question is if they can get by through the cryptic crisis and get to a sort of blockchain biz success?

Who is willing to bet that Russia pulls this out?

"Russia is even better than Turkey, or in Argentina," says Synergis CEO Vladimir Popov. It is better known as "Menaskop" among cryptocurrency enthusiasts. He thinks that Russia can overcome the crisis and time will lead to greater interest from local investors. "Remember the 2012 crisis in Cyprus … led to one of the first Bitcoin booms.If you think we are on the threshold of another world crisis, something that can also be like 2008, then I see all the prospects growth of cryptocurrency as a hedging tool, "he says.

This is a mantra repeated by many. Bitcoin becomes a safe haven. Like gold So far this has proven incorrect. Gold prices are increasing. Bitcoin prices are decreasing.

Cryptographic fund managers like Wolfe at SPRING in Moscow believe that the real investment case for cryptocurrencies "is not for things that will rise in the short term, but for a fundamental revaluation of the asset class within the next five to seven years", He says. "It will be driven primarily by countries with volatile currencies". Think of Turkey. Or in Argentina.

Diego Gutierrez Zaldivar, CEO of RIF Labs in Argentina, a blockchain solutions provider, thinks Wolfe is right. Countries in emerging and frontier markets are seen gravitating towards the crypts if there is another serious economic crisis.

"This is where I think you will see more interest in digital currencies," says Zaldivar. "If it is more stable than its currency and easier to access the dollar, then why not encrypt it?"

While the Russian ruble is not as volatile as the Argentine peso, Russian politics is unstable thanks to Western sanctions and oil prices.

The Russians will be involved again in the crypt this year. It will also be the retail investors in Russia, if the calculation of Binance is correct.

But the Russian Ico have come and gone. That market is dead. STOs are new, but Russians trying to raise money in this way are installing a store in Singapore or here in the United States.

Meanwhile, the professional investor in Russia continues to cut losses.

"We have fewer positions now," says Wolfe, who now holds 12 tokens, whose Moscow fund held 20 in a portfolio last October, two months before Bitcoin reached $ 20,000.

"It has been impossible to choose a winner in the last four months unless you are buying some dark currency that is probably being manipulated, and we are focusing on long-term exposure now," Wolfe says. Russian coins or no Russian coins, Wolfe warns that investors "should avoid this asset class if they do not have enough."