An Ambush for Crypto-Investors

Vyacheslav Zolotukhin,  EvoDesk CEO, talks about how to reduce investment in crypto-market after the introduction of a new register of accounting and identification.

According to the latest news, with the advent of the new government, the active work on the control of the cryptocurrency and blockchain has started. This theme has not given anyone rest during more than a year. It’s not a surprise if there is, in fact, a new financial market that is not taxed. Moreover, it is not known about money turnover there. Apparently, it was necessary to quickly make a decision on this issue, while,  the crypto investors are first, who felt the strike.

Recently, all mass media posted an official statement of the government, which says that for investment in crypto projects, registration in a special register is required, where identification will imply the existence of a passport and an Taxpayer Identification Number. But that’s not all. In addition to the “registration”, the members will be obliged to pass certification in order to get the opportunity to invest money in the course of primary offers of coins. With a high degree of probability, we can assume that many of them will not like it and some of the crypto investors will want to stay in the shadows.

It is assumed that this register will be supervised by one of the departments: the Central Bank or the Ministry of Finance. In addition, they want to bind  a digital wallet to the passport data and TIN, justifying this by excluding the anonymity of calculations, while the crypto investors can also be identified by biometric data.

According to such statements, there is a reasonable question: is it possible to circumvent the ban on investment?

Yes, of course, you can do this. It’s enough just not to participate in the ICO, which at least somehow connected with Russian projects. I will explain: what is written in the future law concerns exclusively Russian projects and companies. It is likely that in the future there will be some regulation of this component. But while it is completely unclear how this innovation will work and get along with our formed crypto world.


If you do not want to identify yourself, then there is a solution which it is extremely simple: to participate in other international ICO, which you can easily find out.

Nowadays, ICO gives the crypto investors huge opportunities for investing in promising projects, which, perhaps, later will give them back a huge “X” profit.

I will explain that “X” is an increase in some cryptocurrency in two or more times. X1 means 100%, X2 – 200%, etc.

This factor is now key, because with conventional investments, you will never get such a solid exaggeration of capital in the hypothesis. Here, there are cases and opportunities.

According to Anatoly Aksakov, Chairman of the State Duma Financial Market Committee, identification is necessary in the framework of anti-laundering legislation.

In fact anonymity is not so important, because the majority of people has earned their money in an honest way and it is not a priority for them, but there are always other companies that try to hide their real profitability at the expense of ICO.

Personally, I have not had to communicate with such kind of people and in practice I have not met them, but denying that they exist is wrong.


First of all, the introduction of a special register will affect those companies that conduct the ICO. Why? The investor’s threshold to enter their collections will increase. There is nothing critical in this, as the worst thing that can happen in principle is that some number of crypto investors who do not want to bother with identification will fall off.

For this there is a good example – betting odds. Once you could just go to the site and bet any amount on the team you liked. Now this is not enough: you do not just enter all your data through the site form, but also go to their office to confirm your identity. Personally, I’m lazy to do this.

That is why there is a share of the likelihood that a small part of potential investors will leave. But you need to understand that the biggest money in the project comes from foundations. And they have no problems with identification. There is an opportunity to collect money from private investors, without requiring passport data. I think that the funds will become a kind of gasket through which money will flow.

Whether creation of this registry is the right decision, it is difficult to say now. First of all, the goals are unclear: what is this for, for whom? To combat money laundering? Maybe, but on condition of appropriate work. There is a feeling that those people who created this law, yet do not understand why they do it. It was created solely in order to know where and how much money goes, and how its amount can be cut by taxes. Therefore, in the form in which it is now,  the most important thing, utility, is still unclear.

If regulation is aimed at reducing fraud on the  ICO part or whether security in the investor relationship is working, then it’s very cool. But for the time being there is a feeling that this law is still created in order to see a turnover at the crypto market and how you make money on it thanks new taxes. And this is just not cool.

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