Ukrainian crypto businesses have created 25 digital coins in 2017 and 2018, raising more than $132 million through token sales, according to a new report. Cryptocurrencies are gaining popularity in the country, where the daily trading volume now reaches $1.9 million USD. The growing number of crypto users served by local exchanges has prompted calls for clear but light regulations.
3 Exchanges, 4,000 Traders
Over the past year and a half, Ukraine-based companies have attracted more than $132 million through Initial Coin Offerings (ICOs), when traditional IPOs (Initial Public Offerings) have made 0 dollars. This according to Ukrainian deputy Alexei Mushak, who took part in the presentation of a new report titled “Green Book: Cryptocurrency Market Regulation.” The legislator believes that it’s time for Ukraine to introduce light regulation to the industry, or crypto businesses will choose other countries like Malta, Gibraltar, Estonia, and even Belarus.
The authors of the study, associates at the BRDO (Better Regulation Delivery Office) analytical center, have tried to calculate the crypto turnover in various segments of the sector and determine the degree of state intervention needed for its further growth, Mind reports. The researchers have focused on market participants such as issuers of tokens, crypto exchanges, other online and offline traders, crypto miners.
Fifteen ICOs have been conducted in 2017 and the first half of 2018, the released document revealed. The total capital raised in the token sales amounts to $132.7 million. Dream Team ($38 million), Rentberry ($30 million) and Dmarket ($10.5 million) are the top three projects. Eight other ICOs have not disclosed the amount of the capital they have
