The Bank of Russia is considering crowdfunding and ICO as alternative forms of capital raising

During the «REPO forum 2017», organized by the National stock Association, the first Chairman of the Central Bank Sergey Shvetsov said that the Bank of Russia considers crowdfunding and ICO as alternative forms of raising capital.

The Central Bank believes that crowdfunding and ICO on the variety, are complementary to the bond market, and bonds are complementary to Bank lending:

«Crowdfunding should be softer, should not be a huge amount, as the capital market».

The Bank of Russia believes that to regulate crowdfunding and ICO must be by a separate bill, which will be determined by alternative forms of raising capital.

«We are inclined to separate the law… It’s about alternative forms of raising capital. While the law is called, «project On alternative forms of raising capital». ICO – a kind of crowdfunding. We did not allocate in a separate class,» – said Shvetsov.

The consideration of the proposals of the Bank of Russia and Ministry of Finance, the state Duma will be engaged in next year and will be offered options of how this segment to regulate, said Shvetsov.

The Committee will begin detailed discussion of management options for the ICO in February, it was previously Chairman of the Duma Committee on financial market Anatoly Aksakov. Today cryptocurrency and the ICO in Russia is not legislatively regulated. However, transactions with digital currencies in the country is already underway and some companies have announced plans to carry out placement of the tokens.

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