The first system of guarantee of initial investments in coins (ICO) should to be launched in Russia in 2018, according to Izvestia 19 February.

The system, named ICO-hub, is developed by Globex Bank, a subsidiary of the public bank Vnesheconombank (VEB), with the Russian Association of Cryptocurrency and Blockchain (RACIB According to Alexander Mineev , responsible for the development of e-commerce and remote banking at Globex, the ICO-hub project is expected to be launched in March 2018.

For those looking to raise funds through ICO, the ICO-hub system allows to accept both crypto and fiat – a blocked account is opened with Globex to accept cash trust, and a CrowdHub wallet opened to accept cryptocurrency.]

A receiver is a system in which a financial instrument or an asset is held by a third party on behalf of two other parties that are completing a transaction.

Mikhail Lapin Consulting Service Bell Integrator Izvestia said that the 3 The use of escrow accounts for ICO projects would provide both parties with guarantees, while minimizing the risk of breach of agreement or fraud. The head of the Russian tax firm TSK replied to Ivestia pointing out the lack of a mechanism for legal protection of investor rights, given the lack of legislation on cryptocurrency in Russia.

months, the Russian Ministry of Communications has issued requirements for those who run IFAs, demanding that they have at least $ 1.7 million in nominal capital and a license issued by the ministry so to launch an ICO.