Crimea to create a crypto monetary fund

With the aim of encouraging foreign investments in technology, the Crimean government is considering the creation of a blockchain group as well as an investment fund in cryptocurrencies.

The mentioned group would be within the Special Economic Zones (SEZs) in the country, as well as in Sevastopol, the largest city, according to information from the Russian news agency TASS.

The details for the Crimean initiative were discussed by Georgy Muradov, permanent representative of the Republic of Crimea to the President of the Russian Federation, during the recent meeting of the Program Committee of the Yalta International Economic Forum (YIEF).

As an antecedent to this news it is pertinent to mention that in the first half of 2018, the Crimean government had made public its plans to create a cryptocurrency fund as a way to avoid international sanctions and attract foreign investors.

Additionally, a week ago the Committee of Financial Markets of the State Duma of Russia announced the plans to launch a stablecoin backed by the state, which would be the same ruble but encrypted.

M.Pino

Source: Cointelegraph

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