ETHERLive
ETHERLive delivers real-time price and volume data across 16+ exchanges to users in a clear and easy-to-understand package. Users can get up-to-the-second updates for each exchange/currency pair, as well as aggregated market averages for each exchange, currency, and the market as a whole. It also provides a global converted average of all the currency pairs monitored by ETHNews, converted to USD.

---

24hr ---
--%
Monday Jun 25th 2018
RESOURCES

The Basics

Learn the basics of Ethereum and various cryptocurrency technologies

Learn More

What is Ethereum?

Understand the underlying principles of the Ethereum Platform

Learn More

The Blockchain

Discover the revolutionizing technology known as the blockchain

Learn More
SUBMIT

Press Release

Submit a press release for consideration on ETHNews

Submit Press

Story / Dapp

Submit a story or DAPP to be considered for publication on ETHNews.

Submit Story

Explanation

Submit "Ethereum Explainer" content for consideration to be featured on ETHNews

Submit Topic
ETHNews Logo
---
--%
Home
News
Etherlive
Ether Price Analysis
Resources
Contact Us

Russian Institutions Test Central Bank’s ICO Platform

By

Andrea

Tyrell

WriterETHNews.com

Two Russian financial institutions prepare to test a new regulatory platform with hopes of making ICOs more secure and transparent.

Russia's National Settlement Depository (NSD) and Sberbank CIB will test a new regulatory platform created by the Bank of Russia, the country's central bank. Both banks' core lines of business include asset management and investment banking. The proposed platform will examine the supply and distribution of initial coin offerings (ICOs), to make them more secure and transparent for the bank's clients and investors.

The NSD, which acts as the central securities depository for the entire Russian Federation, will record tokens, carry out their issuance, and provide clearing and settlement for the ICO, as well as keep and register digital assets. Sberbank CIB, the Bank of Russia's asset-management branch, will act as the issuance coordinator and anchor investor in the tokens. Level One, a company that manages Moscow's biggest commercial lecture hall, will be the issuer of the coins.

Igor Bulantsev, senior vice president of Sberbank, announced:

Sberbank CIB considers the Russian ICO market to be very promising. Many Sberbank clients are interested in this type of investment, and we plan to promote this service proactively once the appropriate legislative framework comes into effect; we will be one of the drivers to institutionalize and popularize this type of transaction.

The feedback from the test is essential, as it would help the platform improve before being released to the public.

The Russian Federation recently came close to deciding the content of a draft law that would regulate cryptocurrency activities in the country. The Finance Ministry recommended imposing a cap on the amount individual investors can put into ICOs annually, in order to protect investors. The Bank of Russia is concerned with the law, in order to determine if the tokens should be exchanged with Russian rubles. According to Russian news outlet RIA, Alexei Moiseev, Russia's deputy finance minister, said that this jurisdictional disagreement between the Bank of Russia and the Finance Ministry has been resolved; if it passes, the new law is expected to roll out by the end of the summer.

Andrea Tyrell

Andrea Tyrell is a staff writer with ETHNews. She is passionate about ethical journalism, traveling, and community service. Andrea holds no value in cryptocurrency.

ETHNews is committed to its Editorial Policy

Like what you read? Follow us on Twitter @ETHNews_ to receive the latest National Settlement Depository, Sberbank CIB or other Ethereum business and finance news.