“Sberbank CIB” and national settlement Depositary (NSD, part of Moscow exchange group) are planning to test in the “regulatory sandbox” of the Bank of Russia the mechanism of the ICO. The Bank of Russia knows about this initiative and he is waiting for applications for the pilot project, confirmed by a representative of the regulator. Now the project participants modify the application, confirmed partners. They prepare the ICO educational lecture Level One.
In early February it became known that the Bank of Russia received applications three potential participants “regulatory sandboxing” at financial technologies, said the first Deputy Chairman of the Central Bank Olga Skorobogatova. They came from two credit institutions and one commercial organization. On the launch of the “sandbox” the Bank of Russia announced in mid-April of this year. For applications the regulator has created on its website a special page.
NSD and Sberbank CIB will offer Level One tokens only to qualified investors and to sell them only in rubles, said the representative of the Chairman of the Board of NSD Eddie Astanin. The first transaction to be held in August and September 2018, said the representative of Level One. The proceeds from the sale of tokens by means of Level One will create new online services, and investors will be able to use these services, paying the purchased tokens. The amount of the placing the parties did not specify. Operations will take place on the blockchain the platform Masterchain Association “FINTECH”, say representatives of the participants. Managing Director of the Association Tatyana Zharkova has confirmed the participation of the platform in the project. According to her, the given tokens will be carried out on special accounts of participants in the NSD.
On Tuesday the state Duma adopted in the first reading the draft law “On digital of financial assets”, which explains the concept of “mining”, “cryptocurrency”, “token”, “smart-contract” and “the procedure of issue of tokens” (ICO). Under the bill, the token exchange for rubles or foreign currency may be made only through “exchange operators digital of financial assets”, such as the Moscow stock exchange. Tokens can be redeemed for roubles and currency, but the terms and conditions of transactions with cryptocurrencies, the Central Bank will determine and agree with the government. The private exchange of cryptocurrencies in Russia, the bill is not intended pointed out earlier, the representative of the Central Bank: handling unsecured private crypto currency carries high risks for consumers and investors.
The experiment promises the real experience of understanding the legal aspects of the future implementation of tokens and blockchain says partner of the Fund Add.Capital (creates investment products for large investors, funds and banks in the traditional and digital assets) Alexey Prokofiev. In his opinion, no experiments in the sandbox many possible implications of using tokens is not obvious. Programmers also have the opportunity to repeatedly test your code in a test environment, said Prokofiev.-