80 IDACB member states to form a scam list and launch a $300M fund

The International Decentralized Association of Cryptocurrency and Blockchain will form a list of known scam projects from the cryptocurrency market, as reported by Russian news agencies citing Maxim Chereshnev, international secretary of this organization. The initiative is called relatively simple - Black List.

Additionally, the association will launch a fund with a base capital of 300 million USD: some subsidiary funds will act as stabilizers for most important cryptocurrencies, and some other ones will finance prospective ICOs.

This is going to be a decisive step in the field of the cryptocurrency market development, as new economic unions mean more universal rules. As noted by the recently-appointed South Korean Financial Supervisory Service head, fraudsters actually benefit from the lack of clear market rules by using the disorientation of investors. Professor Yoon Suk-heun’s view is indirectly supported by most other first-world officials.

The only questionable side of the story is the financial policy of those funds which will stabilize top cryptocurrencies: where is the line after which it would be unwise to spend big amounts of money to save a certain cryptocoin? The representative of IDACB has highlighted the extremely democratic nature of the organization, the lack of majority support may become the natural barrier for imprudent budget spending.

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