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Crimean Government Assesses Cryptocurrency Fund To Attract Foreign Investors

Apr 20, 2018 Posted /  968 Views

Crimean Government Assesses Cryptocurrency Fund To Attract Foreign Investors

According to local media Tass, the Crimean government is thinking of making a digital currency fund for foreign financial investors keeping in mind the end goal to maintain a strategic distance from sanctions.

The Crimean Deputy Prime Minister Georgy Muradov addressed a gathering of journalists:

“We are discussing ways to avoid sanctions. One of these methods is the creation of a cryptocurrency investment fund in Crimea where we will accumulate cryptocurrency resources, transfer them to normal money, and then use them for the realization of any kind of investment projects on Crimean soil.”


Muradov said that the subject would be raised amid the Yalta International Economic Forum and the foreign investment in the Crimean economy will be one of the key purposes of the talk. Muradov included that over the span of the meeting, they plan to secure ten agreements of investments between different overseas and Crimean organisations.

The Fourth Yalta International Economic Forum, "The Future of the World. The Future of Russia" will be held from April 19 to April 21. Coordinators say that around 3,000 individuals from 60 nations are participating.

Prior this week, the Russian government obstructed the cryptocurrency community's favoured application Telegram. With a specific end goal to uphold the boycott, communications expert Roskomnadzor blocked about 20 million IP addresses. Regardless of all endeavours by the legislature to deactivate the application inside Russia, most clients report that it is working without applying extra methods to avoid the blocks, similar to proxy or services of VPN.

In the meantime, many different sites are down because of Roskomnadzor's IP blocking. Xbox Live, Microsoft updates and even the site of Roskomnadzor is experiencing shutdowns.

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Tags: Crimean Government Cryptocurrency Fund Investors Crimea bitcoin cryptocurrency investments

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