Banks Gear Up to Offer Clients with Services Related to ICO Participation

Banks Gear Up to Offer Clients with Services Related to ICO Participation

Swissquote, an online bank, becomes the foremost in the industry to provide ICO participation and custody services to its clients; Russia’s state-owned Sberbank successfully concludes an ICO trial and services, catering to it will follow

On 22 October, Swissquote issued a press release where the bank revealed its new service enabling clients to partake in ICOs through its platform.

LakeDiamond

The first ICO chosen by the bank is LakeDiamond. Founded in 2015, the company produces laboratory grown diamonds for industrial purposes. Tokens from LakeDiamond (LKD) are issued using smart contracts on Ethereum. A total of 60.5 million Swiss francs (CHF) worth of tokens will be issued. 60 LKD equals to 33 CHF, which is the minimum required purchase.

The diamond manufacturer plans to raise 60 million CHF.

Pre-sale will run from today until 11 December 2018.

Russia’s ICO Trial Run

Sberbank of Russia, together with the nation’s National Settlement Depository completed an ICO trial successfully. This is according to the press release dated 19 October. The experiment involved LevelOne as token issuer, Sberbank as the conduit of payment transfer (from the bank back to the issuer), and the NSD provided the nodes.

The bank is waiting for the Duma to pass legislation on digital assets before it will offer ICO-related services.

Related news

Mueller finds no coordination with Russia in election hack, influence campaign; leaves obstruction decision to Barr

Special Counsel Robert Mueller’s report says members of the Trump campaign, including the president, did not coordinate with the Russian government in efforts to interfere in the 2016 presidential election, according to a summary of the report from Attorney General William Barr. Mueller did not find that “anyone in the Trump campaign, or anyone associated with it, conspired with the Russian government,” Barr said. Trump called the results “complete and total exoneration,” while Democrats on a number of committees investigating various aspects of Russia meddling and actions by members of the Trump team asked to review Mueller’s full report. “The Attorney General must release the report and the underlying evidence in full, and appear before the House Judiciary Committee to answer our questions without delay,” House Intelligence Committee Chairman Rep. Adam Schiff, D-Calif., House Judiciary Committee Chairman Rep. Jerry Nadler, D-N.Y., and House Oversight Committee Chairman Rep. Elijah Cummings, D-Md., said in a joint statement. After laying out the facts and reasoning on both sides of the issue, Mueller left it to Barr and the Justice Department to determine whether the president obstructed justice when he took a number of actions, including firing former FBI Director James Comey, which he said later “relieved great pressure” on him regarding the Russia investigation that Comey was overseeing at the time. Mueller’s report regarding obstruction “does not conclude that the president committed a crime, it also does not exonerate him,” Barr wrote Sunday. “So, Mueller’s long-awaited report proved what was known in Russia from the very beginning: There was no collusion between Trump and any of his team with the Kremlin,” Russian Senator Konstantin Kosachev said in a Facebook post. The Mueller investigation yielded 199 criminal charges, 37 indictments or guilty pleas, and five prison sentences, People For the American Way Executive Vice President Marge Baker pointed out last Friday. Many of those charges and indictments – including one naming 12 Russian military intelligence officers – were related to Russia’s hack of the Democratic National Committee (DNC) and a widespread campaign meant to influence the 2016 election in Trump’s favor. The special counsel’s report “outlines the Russian effort to influence the election and documents crimes committed by personas associated with the Russian government in connection with those efforts,” Barr said. The post Mueller finds no coordination with Russia in election hack, influence campaign; leaves obstruction decision to Barr appeared first on SC Media.
SC Media

Russia Postpones Parliamentary Reading of Crypto Regulation Bill

The Russian Duma has pushed back its planned consideration of a bill to recognize and regulate digital financial assets. Initially scheduled for March 22, the reading will now hold at an unspecified date in April, following the outcome of a vote on the agenda for a plenary session last week. The draft bill is not without its controversies, as it has been specifically edited to remove the terms “cryptocurrency,” “smart contract,” and “token.” This is in line with Russia’s surprisingly cautious position on cryptocurrencies,which has seen authorities repeatedly drag their feet on the possibility of creating a regulatory framework for The post Russia Postpones Parliamentary Reading of Crypto Regulation Bill appeared first on CCN
CCN

Hot news

By continuing to browse, you agree to the use of cookies. Read Privacy Policy to know more or withdraw your consent.