Russian Central Bank Official: ICOs Have ‘Huge Potential’

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 was quoted as saying: […]

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