Moscow’s ambitions to become an international financial centre may have come unstuck in 2014, but the city is rapidly becoming a preeminent global hub for a different type of finance.
A recent study cited by Quartz named the Russian capital as the top city for initial coin offerings (ICOs) last year, based on the location of the chief executive or founder of the fund-raising company, well ahead of Silicon Valley. This is all the more impressive given that ICOs remain illegal in Russia itself.
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