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Saturday, September 9, 2017

Russian-Chinese Cryptocurrency Alliance Launch Delayed Over China's ICO Hitch

Russian-Chinese Cryptocurrency Alliance Launch Delayed Over Chinas ICO Hitch

In a last-minute twist of events in Moscow today, leading Russian cryptocurrency platform KICKICO announced that the launch of its planned ‘Chinese-Russian Cryptocurrency Alliance’ would be delayed until clarification of the new Chinese regulatory framework on initial coin offerings (ICO’s). The Alliance’s formal launch had been planned for September 6 in the Russian capital along with a leading player from China.

Nevertheless, KICKICO’s partner CyberTrust did announce at a press conference held at the Ritz Carlton hotel in Moscow - with around 100 attendees including local and international media - the launch of a new "Russia-focused" exchange, CyberEX, in alliance with Chinese-based digital assets exchange C2CX.

A fund had also been conceived in collaboration with two leading Chinese platforms and Swiss-based ?rypto investment bank CyberTrust, with the goal to develop blockchain structures for start-ups in Russia and China. This would utilize KICKICO’s crypto crowdfunding platform.

The proceedings to mark this Russo-Chinese initiative - albeit now aborted until further notice - comes just days after the regulatory authorities in China were reported to be cracking down on ICOs and branded them legally questionable. No doubt the hand of the Chinese regulators may have put the kibosh on proceedings on the Alliance and the intended splash.


Full story at http://bit.ly/2xRRNDl


Source: Forbes


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