The Central Bank of Russia has completed an initial coin offering (ICO) in its regulatory platform, a bank official said this week during the Eastern Economic Forum held in Vladivostok, Russia.
The deputy director of the financial markets development at the Bank of Russia, Ivan Semagin revealed the sandbox ICO experiment for the audience in the event, following the original announcement which was released earlier this year. He stated, that the trial was successfully completed, but there turned out to be some issues from the legal perspective – without specifying any further, in the interview with Russian news agency TASS.
The original announcement of the experiment was announced in last May by Sberbank – Russia’s biggest retail bank funded by the state, and Russia’s National Settlement Depository (NSD). The two parties revealed then, that they were collaborating to test ICO in a platform operated by central bank.
The tokens were registered and transacted on the infrastructure of NSD which is the same core tech that Russia’s stock exchanges are using. Sberbank participated as the main investor in the ICO of Level One, an online commercial lecture site based in the capital of Russia, Moscow.
Author: Sarah Tuuli