Financial Institutions To Use Bank Of Russia’s Regulatory Sandbox For ICO Pilot

Announcements, ICO News, News | May 25, 2018 By:

State-owned Russian bank Sberbank and the National Settlement Depository (NSD) of Russia are planning to run an initial coin offering (ICO) in the central bank of Russia’s regulatory platform.

Launched in April 2018, the Bank of Russia’s regulatory sandbox offers FinTech companies the chance to test new financial services and technologies without the risk of violating domestic law.

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Iran, Russia May Use Cryptocurrency To Avoid US Economic Sanctions

News | May 21, 2018 By:

Mohammad Reza Pourebrahimi, the head of the Iranian Parliamentary Commission for Economic Affairs, has suggested that cryptocurrencies be used to bypass US sanctions.

At a meeting with Dmitry Mezentsev, the Chair of the Federation Council Committee on Economic Policy, Pourebrahimi said that cryptocurrencies could provide a way for Iran and Russia to avoid US dollar transactions,

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Russian Telco MTS, Sberbank Issue Commercial Bonds Using Blockchain Technology

Announcements, Blockchain | May 16, 2018 By:

MTS, the largest mobile network operator in Russia, and state-owned Russian bank Sberbank haved issued commercial bonds denominated in rubles using a blockchain platform.

The transaction involved placing commercial bonds in the amount of RUB 750 million ($12M USD) with a maturity of 182 days and an annual coupon rate of 6.8% on the OTC market.

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Russian Court Recognizes Bitcoin As Valuable Property

News | May 9, 2018 By:

Russia’s Ninth ‎Arbitration Court of Appeals has recognized cryptocurrency as a “valuable property.”

In its ruling on Monday, the court recognized cryptocurency as a property with value in bankruptcy proceedings. The court ruled that a bankrupt person’s cryptocurrency must be included in the debtor’s bankruptcy estate.

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