The CIS (Commonwealth of Independent States) branch of global accounting giant Deloitte has signed a memorandum on strategic partnership with Waves, a decentralized crowdfunding platform developed in Russia. The partnership is aimed at providing comprehensive initial coin offering (ICO) services and tailored blockchain solutions.
Under this memorandum, Deloitte’s legal and tax experts will provide the necessary consulting and methodology assistance to businesses and government bodies.
In addition to that, one of the objectives is to develop the legal mechanisms for regulating ICO projects. The two sides say this will help companies seeking crowdfunding to safeguard themselves from project risks and challenges after they complete the initial offering of tokens.
“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 the entire blockchain industry in Russia and the CIS,” Waves founder and CEO Sasha Ivanov said.
“Blockchain technologies are gaining ground, already allowing start-ups, investors and other stakeholders to quickly raise significant funds in cryptocurrencies. 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,” says Artem Tolkachev, Director of Legal Services for Technology Projects at Deloitte CIS.