Russia and ICO ( Initial Coin Offering) Problem: Legal proceedings

This platfrom, which was established in Russia, is operated by Central Bank of Russia. An initial coin offering (ICO) pilot was released.

Ivan Semagin made an interview speech. The main subject in his speech was ‘Sandbox ICO’. He made another announcement in May. He announced that Sanbox ICO was successfully resumed. He made his speech in Vladivostok, a port city close to the Chinese border.

Ivan Semagin spoke in an interview with TASS which is the Russian news agency. According to the Semagin, The Central Russian Bank’s experiments were very successful. There was no problem while performing Sandbox ICO experiment. When everything is going well, there is only one problem. This problem was about legal cases. But they did not care about these legal procedures.

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According to the information given earlier, this platform is being tested for the first time. Russia made some big banks agreements for this platfrom. The names of these banks are Sberbank and National Settlement Depository. These are all very important banks in Russia. They were common for this platform and they worked together.

The tokens were manufactured in accordance with the infrastructure of the NSD, the core technology used in Russian stock exchanges. These tokens were approved and produced. While serving as NSD, Sberbank CIB, the corporate and investment bank of the banking giant, was the chief investor in the coin offer of Level One, a Moscow-based business conference site.

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Igor Bulantseve is general manager of Sberban CIB. He said that Russian telecom giant MTS bought 750 million commercial bills through a block chain. He also said that ICOs have found a large number of customers in the banks. Customers have the opportunity to find a large number of funds through ICOs.

After all these positive developments, the ICO made a speech. According to the ICO, they are very happy about the work they do. They feel very fortunate to be working with Sberbank. Because Sberbank’s clients are very interested in these funds. The number of customers is very high and growing day by day. Now, the legal process must be done correctly. After being legally compliant, he added that he was a lot of customers waiting for them. The ICO said that, he would institutionalize such transactions and while he was talking about that he was very confident. With each passing day, they are going to expand more.

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