ICO Data Platform Planned By Moscow Exchange

Announcements, ICO News, News | June 11, 2018 By:

Moscow Exchange (MOEX), the largest exchange group in Russia, is planning to build a platform that will publish initial coin offering (ICO) information for investors.

MOEX CEO Alexander Afanasiev said that they are working on the development of basic infrastructure for companies to participate in ICOs and publish token sale data, and is planning to launch it later this year. He added that the exchange will not list tokens, but will only provide necessary information about ICO tokens.

“Right now we’re looking at this from the point of view of fiat currencies, because cryptocurrencies don’t have the status of a legally protected asset,” Afanasiev said. “If they obtain that status, we will place them in our system as well.”

Afanasiev said the exchange may also issue futures contracts for ICOs, if investors are interested in them. He said that MOEX is currently conducting marketing research on potential interest in the products and what type futures specification it might be.

Currently, MOEX operates public trading markets for equity, bond, derivative, foreign exchange, and money market products, and provides clearing, settlement, and depositary services. It also operates Russia’s central securities depository (National Settlement Depository) and the country’s largest clearing service provider (National Clearing Center).

The news came after the National Settlement Depository and state-owned Russian bank Sberbank announced plans to run an ICO in the central bank of Russia’s regulatory sandbox. The possible launch of the ICO project is scheduled for the end of summer 2018.

In May of this year, the Russian parliament approved the first reading of new laws regulating the crypto industry. The bill, “On Digital Financial Assets,” deals with cryptocurrencies, as well as blockchain-related technologies such as smart contracts, mining, and ICOs.

Last week, Russian president Vladimir Putin said that the country should explore the opportunities around blockchain and possibly use it to “avoid various limitations in global finance trade.”