Crypto-currency boom in Russia

Within last few weeks, we have received many inquiries about setting up a legal structure for Initial Coin Offering (ICO) and opening bank accounts for similar structures from Russia. I was trying to understand where it was coming from and what the caused the increase of such increased activities.

Crypto-currency boom in Russia

I personally have only 2 suggestions – it is a good opportunity to make money quickly and many people are trying to cash in on it and those one who want to go off the radar of strict AML regulations and looking for an opportunity to store funds and move them around unnoticed.

Banks vary regarding their stance on companies which are dealing with crypto-currency mentioning a lack of regulation and AML risks.

In the beginning of this week, SEC put the end of the wild-west era of crypto-currencies pitting ICO in line with IPO.