Roman Abramovich, Aleksandr Abramov and Aleksandr Frolov are all pumping funds into the emerging financial phenomenon through Blackmoon Crypto.

The new project aims to “create and maintain the world’s best framework for tokenized funds” and is a daughter of Blackmoon Financial, which raised $30 million in an ICO in partnership with Berlin-based VC fund Target Global.

Target is the point of entry for the three Russian interests, while another billionaire Roman Trotsenko is aiming to release a platform for exchanging cryptocurrencies and handling ICO, local news outlet The Bell reports.

“We had an interest in investing only in Bitcoin and we’re developing the infrastructure; we’re not going to move passengers, but rather service them on the ground,” he told the publication.

…BUT RUSSIA DECLARES BITCOIN WILL ‘NEVER’ BE LEGAL

Trotsenko’s platform is the latest homegrown crypto platform nonetheless facing uncertainty before it has even opened for business.

Russia’s confusing and contradictory legal narrative on Bitcoin continues to perplex, with communications minister Nikolay Nikiforov last week claiming the country would “never” legalize cryptocurrencies.

Despite having what he describes as a fully functional platform, Trotsenko is therefore biding his time before making it available to any users, having raised the topic of legalization with president Vladimir Putin in September.

Moreover, Putin considering the regulations of ICO, mining, and legalization and further the crypto laws is scheduling for January 2018.

Currently, Russia is working its own e-currency, CryptoRuble which is only be recognized by Russian market. 

What do you think about the cryptocurrency trend in Russia? Let us know in the comments below!

At Altecho Trading and Exchange Limited- ATEL, we give you news, opinions, advice and research on Crypto-currency (eCurrency, digital currency), computer/general security issues and the latest internet threats.

Credit: ATEL + Wilma Woo + Sarah Noah