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Elvira Nabiullina announced the great potential of DFA

The Chairman of the Bank of Russia stated that she considers the existence of legally issued digital financial assets, DFAs, useful in the country. According to the official, they are a convenient form of structuring transactions.

Elvira Nabiullina, at the conference “Russian Stock Market 2024”, organized in Moscow by the National Association of Stock Market Participants (NAUFOR), assured that the development of the market for financial securities approved by the authorities provides businesses with new trading opportunities. And she added that the potential of this type of asset has yet to be revealed:

“I see great potential in DFA and I don’t quite agree that the DFA market is developing only through arbitration. My conversations with potential investors and potential issuers indicate that this is in many ways a convenient form of structuring transactions.”

The head of the regulatory agency said that she was in favor of accelerating the adoption of the bill on cross-border payments in digital currencies, but in an experimental mode. First Deputy Chairman of the Central Bank Olga Skorobogatova admitted that three applications have been received from companies to use digital financial assets in foreign trade activities.

Earlier, Anatoly Aksakov, Chairman of the State Duma Committee on the Financial Market, said that mechanisms for using digital financial assets in international payments are already being tested and may begin to operate before the end of 2024.

Source: Cryptocurrency

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