Bank of Russia Approves First Crowdfunding Platform to Hold ICO Campaigns
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June 4, 2020

The Central Bank of the Russian Federation also known as the Bank of Russia has listed "Independent Registrar Company R.O.S.T." to the register of investment platform operators, iHodl Russia has learned.

This is the first register of operators of investment platforms approved the Central Bank of the Russian Federation, according to the Bank of Russia website.

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According to the law ‘On Attracting Investments Using Investment Platforms and Amending Certain Laws of the Russian Federation’, developed with the involvement of the Bank of Russia, all operators of such platforms must be registered in the listing by July 1.

The companies that fail to be listed by the watchdog will be obliged to cease its services.

Tomashevskaya & Partners IP/IT adviser Roman Yankovsky says the company will likely to hold ICOs on the platform.

"It is logical that the registrar was the first platform as ICO token management has much in common with securities management," Yankovsky added.

iHodl previously reported that Russian authorities published a new version of the draft law 'On Digital Financial Assets' as well as a series of additional documents regulating transactions with cryptocurrencies.

Per this new version, the circulation, mining and advertising of cryptocurrencies could be banned in Russia. Anatoly Aksakov, head of the financial market committee of the State Duma, said the country's new law on cryptocurrencies will not come into force until the summer.

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