Distributed Registry Systems, the company behind the Masterchain platform, has been added to the register of operators of information systems that can issue digital financial assets (DFAs) by the Central Bank of Russia (CBR), according to a report by the business news portal RBC.
The registration of Distributed Registry Systems by the CBR is expected to have a significant impact on the digital asset industry in Russia. Masterchain is a blockchain-based platform created by the Russian central bank to facilitate transactions between financial institutions, with a focus on reducing transaction time and increasing transparency in the financial system.
With Distributed Registry Systems now registered by the CBR, the company will be able to issue DFAs on its Masterchain platform. This is likely to encourage the adoption of digital assets in Russia and promote the growth of the country's blockchain industry.
The CBR has been working to create a regulatory framework for digital assets, and the registration of Distributed Registry Systems is part of this effort. By exploring the potential use cases of blockchain technology and digital assets, the CBR aims to create a legal framework that will allow for the development of these technologies in a safe and regulated manner.
The registration of Distributed Registry Systems is seen as a positive step for the digital asset industry in Russia, and is expected to pave the way for more companies to enter the market. As the adoption of digital assets continues to rise globally, the regulatory framework for these technologies in Russia is likely to play a crucial role in the development of the country's blockchain industry.
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