The capital of the Russian Federation has said it will hold its own cryptocurrency convention on June 1, and it’s planning a Bitcoin cash token for the event.
According to the Moscow State Chamber of Commerce, the event will be hosted by the company Capital Management.
The company is known for holding its own events, including its 2017 cryptocurrency conference and a successful ICO.
Capital Management CEO Sergey Shakhov told Business Insider that the event is being held “in accordance with the protocol of the State Council of the Federation,” meaning it will be a blockchain-based event.
“The event will take place at the city’s largest bank and its headquarters, and there will be various tokens for purchase,” Shakhampov said.
“This will be one of the first such events in Russia, and a token of Bitcoin Cash is in consideration,” he added.
The Russian state’s currency is currently pegged to the US dollar, so it will not be the first time that Bitcoin Cash has been used for a cryptocurrency convention.
Last year, Bitcoin Cash raised $2.2 million in an ICO.
The event, titled Bitcoin Cash Cash: Russia, will be held in Moscow, Moscow’s former capital, and will feature speakers from the Russian government, state-owned banks, and cryptocurrency developers.
Bitcoin Cash was originally dubbed Bitcoin by its developers, but its developers have since renamed it to Bitcoin Cash, saying it will allow users to transact with digital currencies and the blockchain without needing a bank account.
Bitcoin has surged more than 300% since its introduction into the Bitcoin market in late 2017, thanks to a number of factors, including increased acceptance by the US government and increasing adoption of digital currencies such as Ethereum and Litecoin.