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The Moscow Exchange (Moex) to Launch an Infrastructure that will Allow Companies Conduct Icos

ICOs

Moscow Exchange (MOEX) is setting up an infrastructure which will allow companies to launch Initial Coin Offering (ICOs) and anticipates to unveil the project this year. Reuters reported June 8.

MOEX is reportedly working on creating a platform that will enable companies to participate in ICOs and publish token sale data.

“We are now developing projects, creating the basic infrastructure in order to be able to display companies on the ICO, in order to be able to display tokens, so that this token would be described – which is now missing at all those sites that offer this kind of services”, said Alexander Afanasiev, MOEX CEO.

Afanasiev stressed that the primary goal of this project is to provide information about the responsibilities and obligations of token issuers, publish token data and other significant details of participation in the ICO. The CEO further added that the exchange would not list tokens on this platform.

Recently, The Moscow Exchange announced that they are creating an infrastructure to trade digital currencies such as bitcoin. The exchange plans to trade cryptocurrencies as well as derivatives and exchange-traded funds (ETFs) based on them. This announcement came on the heels of the plan by Deputy Finance Minister Alexei Moiseev to regulate Bitcoin as a financial asset

MOEX is the most significant exchange group in Russia. It operates trading markets in bonds, equities, derivatives, precious metals and money markets. It also operates Russia’s central securities depository and the country’s largest clearing service provider.

For the meantime, Russia is still in the process of drafting cryptocurrency regulation, including how to define tokens. The draft bill was reportedly decelerated due to ongoing consultations regarding its classification.   

Last month, Russian banking giant Sberbank and the nation’s National Settlement Depository announced plans to pilot country’s first official ICO on a central bank regulatory platform

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