In an interview with Izvestia, the Deputy Chairman of the Bank of Russia emphasized that it is now important to ensure that companies can transfer stablecoins to the country and use them for cross-border transactions.
“The Russian authorities want to legalize stablecoins for international settlements. This possibility is currently being discussed, proposals have already been formulated,” Guznov said.
According to him, this could become a permanent norm and it will be necessary to improve regulation so that tokens issued in foreign information systems can find application in the Russian financial system.
The Russian Ministry of Finance confirmed that the issue of using stablecoins in international settlements is being worked out between the relevant departments.
Earlier, the Russian Union of Industrialists and Entrepreneurs (RSPP) proposed creating a cryptocurrency fund to conduct cross-border payments with foreign partners due to increased sanctions from the US and the European Union.
Source: Bits
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
