Alt-News #3: Russia to legalize ICO's / [CNBC] Ethereum taking over / [Fortune] Bitcoin vs. Ethereum / Myethwallet.net SCAM
Russia is currently working on legalizing Initial Coin Offerings (ICO's) according to Vedmomosti (one of Russia's largest newspapers.
Elina Sidorenko explains why they feel the need to regulate them:
The State Duma should undertake the development of legal mechanisms that would allow the verification of such contracts. They should also be designed to identify users and protect the rights of the holders of tokens to fulfill the obligations of issuing companies.
They believe that this will be a huge takeoff in cryptocurrency for the Russian economy combined with the bill to legalize Bitcoin and follow Japan's lead. About this bill she added:
The bill will be a framework. Therein, we define the nature of cryptocurrencies and their status, as well as basic principles for the cryptomarket operation. Other provisions will be mostly referential. We don’t try to create an enormous and viscous law that defines all parameters of a new market right away. Creating such a law would just hinder the market.
Cryptocurrencies have been a huge topic of discussion in Russia and all over the world this year, in June President Vladimir Putin even met with Ethereum Creator Vitalik Buterin talking about the opportunities of using its technology.
Image and info taken from Bitcoin.com - News
Video recorded from this CNBC article on how Ethereum is getting more and more popular over the world and becoming a real contender to Bitcoin.
This video is uploaded onto my youtube channel for embedding on Steemit. There is no ad-revenue in place and is only copied for simplicity of the reader. To read the rest of the article, the link is in the sentence above.
Video recorded from an Fortune.com article about the key differences of Bitcoin and Ethereum from CEO of lending startup SoFi, Mike Cagney and how he plans to use it in his company.
This video is uploaded onto my youtube channel for embedding on Steemit. No ad-revenue gain, only recorded for sharing to the readers of the platform. To read the rest of the article, the link is in the sentence above.
Watch out for a site called Myethwallet.net as it is a scam and is being promoted on Google right now without having been taken down yet. It is not the popular Myetherwallet.com one.
Thanks for all the useful info! Got a new subscriber on Youtube... :D i think it is good that the Russians are following in the footsteps of the Japanese on this. it just puts more pressure on the rest of the countries to follow suit and before you know it they will all accept it. But the trouble is how can all this be regulated? It looks like a real nightmare if you look at the ICO market from a regulatory perspective. I bet a lot of governments are going to fail miserably at trying to regulate this industry. The true disruptive potential of crypto has yet to be seen. Not even the tip of the iceberg really. When institutions that have been around for hundreds of years start toppling over to this (might take decades), that's when the potential will start to shine through. We live in interesting times, we should make the most of it.
I agree! Thanks for the great comment!
Also, thanks for following my youtube but I basically just use it for hosting right now, hopefully will be able to change to Viewly by @furion soon! :D
Im on board too, good story. Holding just a few ether tokens currently
My pleasure! I hope youtube doesn't decide to boot you off before you get to make the switch. Thanks for reminding me of the awesome project that @furion is working on. I am curious to see if Viewly will achieve its core objectives, that of empowering the creators of UCG and setting them free from censorship. Also, it should be interesting to see the disruption this could bring about to the legacy copyright systems. Thank you for all your support and for all the great work you put into Steemit, it is greatly appreciated!
I hope cryptocurrency can make a big field in India too..
Its a honour to be part of this from india..
It will and it is! India is currently 4th on most user traffic to the site!
That is awosome...i also promote steemit in making video about it..
https://steemit.com/youtube/@nilim/how-to-make-money-using-social-media-my-video-about-steemit-in-youtube
Heres the link..
Thanks for sharing!
I usually self-vote later to let other curators earn some curation rewards, but was on a different PC today that had the self-vote option crossed and noticed it at the same time as I published the article.
How nice of you! Thanks for the information and the heads up with Myethwallet.net! Upvoted and resteemed so it can reach as many as possible. I hope everyone does the same!
Thank you!
Thanks for the warning man! :)
Thanks for letting us know .. it is very important for crypto communities to be together against scammers.
Go Russia! :D
Thanks for the scam alert. It doesn't look fishy/phishy at all! :/
Yeah they get more and more real looking over time.
Oh man, they say that they are working on legalising ICO's but still everyone is waiting for the BTC news...
If BTC succeeds with the current plan and implements all necessary Forks, then it will be much easier to legalise everything related to crypto in Russia too.
Thanks for the info. Russia seems pretty progressive. I use MEW too, so I appreciate that news too!
Thanks for the heads up on that scam @acidyo!
Thanks for the heads up with Myethwallet.net. RESTEEMED!
Thanks mate :)