A senior official at Russia’s Central Bank insists the so called initial coin offerings (ICOs) could drive funding opportunities for startups, which is why the regulator is ready support the development of the blockchain funding model.
Speaking at the state-owned TV channel Russia 1, the country’s finance minister Anton Siluanov has stated that bitcoin will not replace ruble for internal settlements.
The Bank of Russia believes admitting cryptocurrencies or any other financial instruments associated with digital currencies to trading and turnover in Russia’s clearing infrastructure is premature.
Elvira Nabiullina, the head of Russia’s Central Bank, says the regulator is analyzing introduction of bitcoin regulation, however, it doesn’t want to hurry things since it sees a lot of inherent risks. Speaking at the St. Petersburg International Economic Forum, she told CNBC: “We’re analyzing now this possibility and I.
The Bank of Russia is in the process of creating its own blockchain consortium focused on complex research of the technology and the opportunities it may provide.
Development of financial technologies and fintech companies will optimize the Russian banking network, while the banks themselves will be engaged in creating infrastructure for fintech companies providing various services to their customers. This is the brief extract of the speech given at Fintech Lab 2016 on June 28 by Vadim.
On June 2, the Russian parliament held a roundtable, or a conference, titled Perspectives of Implementation and Development of Blockchain Technology in Russia.
Vadim Kalukhov, Head of newly established Department of Financial Technologies, Projects, and Process Organization of the Bank of Russia, has confirmed the regulator’s interest for blockchain technology. Kaluhkov, however, insists that terms “bitcoin”, “blockchain” and “distributed ledgers” shall be considered separately. He said that in his interview with publication FutureBanking..