The Russian Association of Crypto-Currency and Blockchain (RACB) has created a register of reliable companies working in the field of the crypto industry, as “Izvestia” newspaper reports. The association expects that a "white list" will help minimize risks in the creation and development of businesses in the field of blockchain and crypto currency, as well as in holding ICOs.

      Legal advice on Russian legislation

      The "whitelist" includes bona fide companies working in the field of the crypto industry: these involve the projects that provide services for the preparation and support of ICOs, as well as those working in the fields of mining and investment. RACB believes that the main problems of the industry are fraud and unprofessionalism. During the first half of 2018 companies and individuals lost more than 270 million roubles due to fraudulent and incompetent companies; the most unprofitable investments are considered those in nonexistent mining projects - an average loss amounts to about 2 million roubles.

      Read More Articles on Doing Business in Russia