Russian authorities want to allow the use of stablecoins for international payments. This possibility is currently being discussed and proposals have already been made, Deputy Chairman of the Central Bank Alexei Guznov told Izvestia.
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The entire chain is planned to be regulated, which would allow people to transfer these assets to the territory of the Russian Federation, accumulate them here and use them for cross-border payments, Guznov explained.
Stablecoins are a type of cryptocurrency. They are usually pegged to the dollar or euro exchange rate, gold or other assets, including cryptocurrencies.
Transactions with stablecoins will be difficult for third-country regulators to monitor, says Natalya Milchakova, a leading analyst at Freedom Finance Global. According to her, this tool will allow payments to sanctioned persons without fear of secondary measures.
Author:
Karina Pardaeva
Source: RB
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