03.11.2017 Russia lost 18 billion rubles because of unregulated ICO

Such data was published by German Klimenko, President Vladimir Putin for the Internet issues councilor. This is just 10 months of 2017 damage that was inflicted on the Russian.

The reason for the financial losses lies in the absence of state regulation in the ICO sphere, Russian Cryptocurrency and blockchaining association (RCBA) state. In addition, about 3.5 billion rubles, according to Klimenko, did not enter the federal budget in the form of taxes.
The attitude of Russian officials towards the development of cryptomarket is fundamentally different from the position taken by the authorities of Vietnam, Indonesia, Lebanon and China. In these countries, the circulation of digital currencies is strictly limited, or even prohibited.
Australia, for example, has the same attitude as Russia does. The central bank of the “green continent” demonstrate understanding that blockchain enters into everyday life. Tony Richards, the head of the department of payment policy of the Reserve Bank, admits that the blockchain system can be used, both in the financial sector and in other sectors of the economy.
In 2018, a new payment platform (NPP) is expected to be started in Australia. Payments will be processed in the Reserve Bank. This platform is potentially compatible with blockchaining.
Let`s recall that Alexei Zenkov, the founder and head of the international project Mining Now is convinced: in Russia, state regulation in the ICO sphere and the creation of a national digital currency – a cryptoruble, can lead to the fact that citizens will have a legal opportunity to exchange cryptocurrencies for fiat ones by paying an income tax. He notes that this is how Mining Now is working today.
RCBA calculated the damage to the domestic economy building on the information on ICO of Russian citizens conducted during 2017 in foreign jurisdictions.