Yuri Molchan

Russia Considers ‘Digital Crimea’ Blockchain Project to Bypass Sanctions

The Russian parliament members believe that implementing the Digital Crimea program, which would be a part of the overall program for digitizing the Russian economy
Russia Considers ‘Digital Crimea’ Blockchain Project to Bypass Sanctions

The Russian parliament members believe that implementing the Digital Crimea program, which would be a part of the overall program for digitizing the Russian economy, can enable Russian companies to avoid sanctions imposed by the US.

Russian deputies and Blockchain experts claim that putting the Russian economy on digital tracks will allow hiding the real location of a company and it would be impossible to trace.

The “digital residency” system, which is also being considered now, implies an opportunity of companies located beyond Russian borders to make a remote registration within the Free Economic Zone. The latter will be created by the Russian Association of Blockchain and Cryptocurrency (RABAC). The government is also considering attracting investments through ICOs.

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