Financing of entrepreneurial projects with cryptocurrency instruments: key trends

In their sanctions politics on Russian Federation unfriendly countries aim at limiting its investment and economic potential. Cryptocurrency is considered as a digital financial asset. New types of cryptocurrencies are being added to the registry. Many countries, including some members of the Eurasian Economic Union, provide opportunities for their individuals and legal entities to sell, buy cryptocurrencies, and carry out investment activities using them. The Central Bank and the Government of the Russian Federation are pursuing a restrained policy regarding the development of the digital financial assets market. At the same time, state support for the digital economy has been strengthening in recent years. Legislation on digital financial assets and digital currency is in effect; investing in cryptocurrencies, cryptocurrency mining, and conducting international payments are permitted; and an “experimental legal regime” for buying and selling cryptocurrencies is being introduced. The development of the digital assets and crypto assets market creates new opportunities for investing and organizing financing of entrepreneurial projects Currently, there are four main mechanisms known: • ICO (Initial Coin Offering) or initial token offering • IEO (Initial Exchange Offering) or initial offering on a centralized exchange • IDO (Initial Decentralized Offering) or initial offering on a decentralized exchange • STO (Security Token Offering) or initial offering compliant with securities legislation The article provides an overview of the main cryptocurrency financing methods (ICO, IEO, IDO, STO) and conducts a comparative analysis of traditional and cryptocurrency financing methods. The study notes that IDO and STO have demonstrated the most stable positive dynamics over the past 5 years. The authors attribute this to greater convenience for users and teams, as well as investor confidence.