According to ChainCatcher, the Russian government is considering formally legalizing stablecoins for international transactions to simplify cross-border payments for Russian companies. The Central Bank of the Russian Federation (CBR) is actively discussing proposals to allow the use of these crypto assets, which are pegged to stable currencies or assets such as the US dollar or gold, making them less volatile than other cryptocurrencies.
CBR Deputy Chairman Alexey Guznov confirmed the move and stressed that the main focus is on regulating the entire transaction chain, from transferring these assets to Russia to accumulating and using them for cross-border payments. Guznov said this could be established as a permanent regulation rather than a temporary experiment.
Stablecoins are seen as a promising tool for international settlements, especially transactions with the BRICS countries, which include Brazil, Russia, India, China and South Africa.
