Russian billionaires invest in Сryptocurrencies

Three of Russia's richest businesspersons, including Roman Abramovich, invest heavily in cryptocurrencies through the European Fund.

Roman Abramovich, Alexander Abramov and Alexander Frolov invest in the new financial phenomenon Blackmoon Crypto. The new project aims to "create and maintain the world's best structure for tokenized funds," and is a subsidiary of Blackmoon Financial, which raised $ 30 million through ICO in partnership with the Berlin-based VC Target Global Fund.

Target Global is the entry point for three interested Russian oligarchs, while another billionaire Roman Trotsenko is striving to launch a platform for exchanging cryptocurrency and handling ICO, reported The Bell.

Trotsenko said:

"We were not interested in investing simply in bitcoins, we are engaged in infrastructure: we do not carry passengers, but we serve them on the ground."

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Trotsenko noted that the platform is already working, but it is still closed for users, as the group is waiting for the adoption of the law on cryptocurrencies and ICO in Russia.

The vague and contradictory events in Russia around Bitcoin are still not fully understood. Earlier, Communications Minister Nikolai Nikiforov said that in Russia the Bitcoin is unlikely to be legalized.

Despite the fact that the new platform is described as fully functional, Trotsenko awaits his hour before making it available to users by raising the topic of legalization with Russian President Vladimir Putin in September.

Mining and ICO should be officially settled by Russia in July of the next year, while preparation for this involves the introduction of some laws on crypto-currencies before January. The Russian so-called cryptoround seeks to become the only cryptographic tool available on the Russian market, and will enjoy regulatory freedoms in exchange for tight state control.

This year, the volume of ICO in Russia amounted to almost $ 300 million, twice exceeding the entire last year's venture market.