The Russian National Settlement Depository (NSD), the central depository of the Moscow Stock Exchange, the largest exchange group in Russia, is developing a blockchain-based platform for providing deposit and settlement services for digital assets and cryptocurrencies.

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Built in partnership with Waves Platform, this blockchain project is designed to run distributed applications. As Waves previously stated in its blog, at that time they made a deal to become a technological partner of the NSD, noting that they had already begun to develop the prototype.

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In today’s announcement, the NRM confirmed that the first prototype will be submitted early next year.

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The platform will allow the NSD to issue a cryptocurrency wallet, available to banks, pension funds and retail investors, which will also allow the exchange of these assets for currency.

Eddi Astanin

Chairman of the Executive Council of the NRM

“Our goal is to create a secure and user-friendly accounting infrastructure for digital assets. We believe that the platform will not only provide technological and legal protection to all parties involved, but also expand the variety of after-trade services for investors and new Institutes emerging in this sector of the economy.”

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However, while the project is technologically achievable, the founder and CEO of the company, Sasha Ivanovich, acknowledged that the uncertainty related to the regulation, namely whether NRMs can be engaged in digital assets in an authorized legal field or not, poses a serious problem for the project’s deployment.

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“The implementation of the project depends not only on technical development, but also on the development of a legislative framework that mitigates the risks of owning crypto-active assets and ensures that the service is user-friendly,” the statement said.

This news are coming with a new record for the crypto market capitalization at 15 Bln, and also bitcoin has start to recover, it was traded today between 4005 USD and 4210 USD, and etc has break out and it’s passed from 13 USD to 17 USD .

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