This year, the Russian economy may be short of $1-1. 5 billion in the case that the projects with local roots will continue to implement its ICO abroad. About it writes “Kommersant” with reference to the report prepared by the Russian Association of cryptocurrency and blockchain (RAKIB) for the President of the Russian Federation Vladimir Putin.

Attracted through ICO funds held through foreign jurisdictions and do not fall in the Russian economy, says RAQIB. However, its origins in Russia take about 10% of the ICO, and the total volume of this market is estimated at $10-15 billion.

At the previous estimates in November 2017 RAKIB estimated losses of the Russian economy from a lack of legislative regulation of the ICO in 18 billion rubles.

Experts draw attention to the fact that the orders of the President, concerning this sphere are not aggressive or negative orientation. At the same time, the government, the Ministry of Finance and the Bank of Russia “primarily concerned with the social component of the problems of cryptocurrency, protected from possible risks and losses”.

“While the initiatives are aimed not so much to enshrine in the legal field, the concept of ICO and blockchain technology, as to be obliged to pay taxes on this activity”, — commented the head of ANO “Law of robots” Nikita Kulikov.

“I know of intelligent entrepreneurs who, having made krausel, collect money for a legal entity registered in Russia,” said co-founder ModernToken Alexander Garkusha.

According to him, entrepreneurs prefer to conduct their business in the countries with predictable regulation, for example in Switzerland, Liechtenstein or Singapore. Russian lawmakers regularly change position on the cryptocurrency, and ICO.