Russia Postponed the Launch of Crypto Cities

July 4, 2018

The project of launching crypto cities in Russia has been temporarily freezed and postponed. 

The president of the Russian Association of Cryptocurrency and Blockchain (RACIB) Yuri Pripachkin told RIA Novosti.

"The launch of CryptoKaliningrad, CryptoCrimea, and CryptoIsland Russkiy has been postponed until a better day."

He also said that the main reason of this decision is the lack of basic cryptocurrency legislation in Russia. 

Pripachkin added that it is important to spread the legal framework of Russia on ICOs. He said, that although there are many scam projects and fraudsters, ICOs are still a great incentive for the development of cryptocurrency in Russia. He added, that he does not support the idea of a mining tax.

 

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