HomeCryptocurrencyRussia Considers Official Crypto Asset Platform As Court Bans Bitcoin Info

Russia Considers Official Crypto Asset Platform As Court Bans Bitcoin Info


Russia’s National Settlement Depository (NSD) is considering building a platform for handling cryptocurrency assets to corner the nascent market.

As local news portal Kommersant reports, the NSD is currently researching proposals to formally interact with crypto tokens, a source confirming interest in the project.

“The NSD along with market players is considering options in this field in light of regulatory initiatives,” the organization’s press service told the publication.

“As per our assessments, the technology behind the securities market has the potential to incorporate crypto assets.”

The joint plans involve the creation of a platform “allowing the introduction of digital assets (following token holder certification) and settlements, as well as for storing private keys and carrying out identification of wallet owners,” Kommersant continues.

Waves is to play a central role in the process, cementing its status in Russia’s still sidelined Blockchain development sphere.

“From a technical perspective the project is not hard to realize,” CEO Sasha Ivanov commented. “Much more difficult is the conceptual, organizational aspect.”

A lack of efficient legal mechanisms for allowing digital assets to operate at state level is the major issue, he added.

The mood in Moscow nonetheless contrasts with news from Russia’s second city St. Petersburg yesterday, where a court issued a ban on distribution of material related to cryptocurrency.

Along with forbidding “spreading of information” about Bitcoin, the ruling blocked access to an alleged forty exchanges.


Cyprus registers Binance as a cryptocurrency service provider.

Binance, a cryptocurrency exchange, will be able to provide services for virtual currencies in Cyprus as a result of the platform's recent registration with the...

More than 24,000 ATMs in Brazil will offer USDT through Tether and Smartpay.

Usdt, the largest dollar-pegged stablecoin on the market, was created by Tether, a company. Tether recently announced that more than 24,000 ATMs in Brazil will...

To solve the blockchain modularity issue, Celestia raises $55 million.

The project Celestia, which seeks to address the alleged centralization issue in the current monolithic blockchains, has announced the completion of its most recent funding...

Hong Kong considers removing the “Professional Investor-Only Requirement” and allowing retail investors to trade cryptocurrency.

Securities and Futures Commission (SFC) of Hong Kong's director of licensing and head of the fintech division both confirmed that the regulator is taking into...

Follow us


Most Popular