Following a successful Bank of Russia blockchain pilot using its sandbox, the central bank has given the green light to a Norilsk Nickel (NorNickel) digital asset tokenization platform. The approval is subject to the new federal law “On Digital Financial Assets” coming into force. Currently, Russian legislation requires digital platforms like this to be operated by banks and exchanges.
“Based on the results of the piloting, the Bank of Russia proposed to include in the draft federal law ‘On Digital Financial Assets’ the provisions necessary for the introduction and development of such decisions in the emerging digital assets market,” said Ivan Zimin, Director of the Bank of Russia Financial Technologies Department.
Norilsk Nickel is the world’s largest palladium producer and a significant producer of nickel, platinum and copper.
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