The Director of the Department of financial market development, Bank of Russia Ivan Semagin at the panel session “Financial center and offshore in the far East”, held in the framework of the Eastern economic forum in Vladivostok, announced that the Central Bank of the Russian Federation conducted an experimental test on the ICO site.

“In the framework of the “sandbox” of the Bank of Russia recently an experiment was conducted to conduct the ICO on the basis of the existing infrastructure. Technically all went well, but left a lot of questions from a legal point of view,” said Semagin.

We will remind that in may of this year Sberbank CIB, the corporate and investment business of the savings Bank and national settlement Depository (NSD) has announced its intention to test the technology at the ICO recently launched for piloting and rapid introduction of new financial services and technologies in the regulatory site of the Bank of Russia. Later, two of the largest Russian banks — Sberbank and Alfa-Bank announced about carrying out the preparatory work for testing at this site new products of private banking, based on the cryptocurrency.