The CBR said about the cloak of financial pyramids under the ICO

The Director of the Department of counteraction to unfair practices of the Bank of Russia Valery Lyakh told reporters that the Central Bank documented cases of disguise of financial pyramids under the ICO (initial placement of tokens).

«We have noted that a significant part of the ICO – this is a camouflaged Ponzi scheme. This is a problem of international scale, associated with the fact that there is the actual provision of cross-border pseudophilosophy services,» said Lyakh.

However, he did not specify how many of the currently identified such «pyramids» and how they damage.

«In Russia, this problem also exists, but this is due primarily to the fact that many are spreading such pseudo-ICO from abroad», — concluded the Telegraph.

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