Deloitte CIS & Waves To Regulate The ICO Market

Deloitte CIS & Waves To Regulate The ICO Market

"Big four" services company Deloitte CIS and Russian blockchain solution company Waves are now collaborating to develop legal mechanisms for regulating ICO projects.

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“Big four” services company Deloitte CIS and Russian blockchain solution company Waves are now collaborating to develop legal mechanisms for regulating ICO projects in the eastern European region.

Announced on July 4, the partnerhip aims to provide customers with “comprehensive initial coin offering (ICO) services and customized blockchain solutions”.

Blockchain technologies are gaining ground, already allowing start-ups, investors and other stakeholders to quickly raise significant funds in cryptocurrencies.”, as Artem Tolkachev, Director of Legal Services for Technology Projects at Deloitte CIS, said.

“However, the cryptocurrency market is relatively young, and not all the regulatory mechanisms are in place. This is why we are glad to cooperate with Waves Platform and are confident that our joint effort will help create the necessary conditions for putting together the legal framework for blockchain projects both in Russia and the CIS.”, as he added.

Deloitte is reportedly helping with expertise in legal and tax compliance.

Waves, which claims to be “Russia`s biggest blockchain project” will provide special ICO solutions to clients who plan lauching new products. The company has notably raised $16 million with its own ICO in June, according to cryptocoinnews.com.

“Our partnership is a significant step towards mass application of blockchain technology. Presently, blockchain companies are not regulated, as there is no existing legislation as such. Our strategic partnership with Deloitte will allow us to take active part in the formation of this regulatory landscape. It is important to join this process both for us and th14e entire blockchain industry in Russia and the CIS.”, commented Waves founder and CEO Sasha Ivanov.

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