According to Odaily, Russia is contemplating the inclusion of stablecoins in its forthcoming legislation, permitting their use for cross-border payments. Alexey Guznov, the Deputy Chairman of the Central Bank of Russia, has indicated that the issue has been raised and discussions are underway to approve the use of stablecoins for this purpose.
However, Guznov admitted that there are some technical issues that need to be resolved. These include standardizing the entire chain, allowing individuals and companies to receive and store these digital currencies, and then use them to complete international payments. The move is seen as a significant step towards the broader acceptance and regulation of digital currencies in Russia.
The proposed legislation is expected to provide a clear regulatory framework for the use of stablecoins, which are digital currencies pegged to a stable asset like gold or a fiat currency. This could potentially facilitate smoother and more efficient cross-border transactions, providing a boost to the country's digital economy. The details of the proposed legislation and the timeline for its implementation are yet to be announced.