Russia will test first national ICO
It will be under the supervision of the Sberbank CIB and the National Settlement Depository
The Sberbank CIB, a branch of the Russian banking specialized in investments, announced that they are working jointly with the Russian Central Bank to implement the project of a national ICO. It will be in trial period under the supervision of Sberbank CIB and the National Settlement Depository.
The experimental income of the first initial offer will be used to start up new online services through the company Level One, which runs the largest commercial conference room in the country. Igor Bulantsev, director of the Sberbank CIB, has indicated that the Russian market of ICO is quite promising, which draws the attention of customers who are interested in the new way of raising funds.
The tokens of this project will be sold by rubles only to qualified investors. The process will be governed by the regulatory sandbox of the Russian Central Bank launched in April. With this measure, local FinTech will have the opportunity to test new technologies without violating national legislation.
Everything suggests that Russia is ready for the implementation of digital tokens and the chain of blocks in national economic life. The eyes are still, however, on the regulations of this new ecosystem.
This week the Russian parliament approved the first reading of the new laws that regulate the crypto industry and that have been the object of study since the beginning of 2018. Concepts such as blockchain, token, cryptocurrencies, ICOs, smart contracts and mining have been discussed.
M.Pino
Source: Tecnolgía.Press
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