Bank of Russia Completes ICO Testing in its Regulatory Sandbox

The Bank of Russia, the country's central bank, reported that it had conducted a successful initial coin offering (ICO) test in its regulatory sandbox.

The Deputy Director of the Financial Market Development, Ivan Semagin, had said that while testing had been conducted successfully, many legal issues were extant. Russia launched its regulatory sandbox earlier in 2018 and anticipated conducting a test on technology related to raising of financing through the issuance of an ICO.

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