Russian State Duma has launched an official tender for a detailed research study on cryptocurrencies, blockchains and ICOs.
Government will allocate federal budget to the winner 2.5 million rubles announced that it will pay. The deadline for submission of bids has been set as October 10.
According to the Russian government’s public procurement website, the State Duma; The cryptocurrency market has opened an official tender for a detailed financial technology research, which includes ICOs and blockchain technologies.
Applications will close on 10 October, submissions are only one until 17 October. will only be evaluated. The winner of the contract will receive 2,498,800 rubles – about $43,400. It should do extensive research on whether ICOs can be an alternative to traditional fundraising channels.”
What will be the content of the research?
In the official mandate for the project, the report takes into account blockchain, ICO and cryptocurrencies prerequisites for their formation, assessment of future prospects for the Russian financial market anddifferent regulatory approach. It includes investigating the possibility of integrating into the Russian and global capital markets by adding investment.
In addition to this, identification of risks and potential threats that may adversely affect the economy is also included in the job description
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The study is also about ICOs It also wants a review on how it can be used as a sustainable alternative channel to mobilize investment resources and how a unique regulatory structure can be developed.
To legislate Crypto
The project’s mission statement defines the purpose of the project. also summarizes:
Using the results of this study, the State Duma has passed a legislative act with the aim of integrating the the most promising technologies into Russia’s financial market. It is aimed to establish the initiative and to ensure their development and regulation by law.
Currently, the Bank of Russia and the ministry of finance are creating a system for cryptocurrencies. According to a recent report, the Russian Finance Minister was preparing a bill to legalize cryptocurrencies such as Bitcoin.. Although the bill is expected to be released at the end of this year, the central bank has taken an opposing stance to cryptocurrencies and said, “We will not allow the use of cryptocurrencies to replace money.”
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