‘Basic’ infrastructure coming soon...
The infrastructure is in the final stages of preparation and is scheduled to launch sometime this year, Reuters reports.
Although the tokens themselves will not be listed in the same way as stocks and securities, MOEX chief executive Alexander Afanasiev explained that the exchange would display token information alongside other relevant company information.
He told Reuters that the ‘basic’ infrastructure is in the final stages of development and should be up and running in the next few months.
Because ICO tokens and the larger cryptocurrency market are not legally protected assets, they will not be listed in the same way as company shares etc.
ICO data to appear like fiat currencies
Instead, they will appear in the same fashion as fiat currencies so the ICO and crypto data will appear much the same as forex info.
Afanasiev explained (rough translation): “We’re looking at this from the point of view of fiat currencies presently because cryptocurrencies do not have the status of a legally protected asset. If that happens, we will place them in our system as well.”
The prospect of one day giving crypto enthusiasts the opportunity to invest in future contracts for ICOs was also touched upon by the chief executive; future contracts for Bitcoin (BTC) were launched by a handful of investment firms in the U.S. earlier on this year.
Putin remains cautious of cryptos
Despite this development, Russian president Vladimir Putin remains cautious of cryptocurrencies, as a whole.
Although, he did acknowledge that the underlying blockchain technology could help Russia circumvent financial sanctions led by Western nations.
Indeed, this was the approach taken by Venezuela recently using its controversial state-backed (the first of its kind) Petro token.
It may have worked for a short period but the U.S. were soon wised up and President Trump promptly banned the use of all Venezuelan cryptocurrencies, domestically, in March of this year.