Russia will develop platforms for cross-border payments in stablecoins

Such an innovation would require additional regulation, the Ministry of Finance is still only looking for approaches to it

06.09.2022 - 13:40

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What’s new? Deputy Finance Minister Alexey Moiseev announced the creation of clearing platforms for cross-border payments in stablecoins, secured by real assets. Russia is working on the project with some friendly countries. According to him, mutually acceptable tokenized instruments will be offered for use on these platforms. This was reported by the publication TASS.

Information on the TASS website

What else did Moiseev say? The deputy minister noted that stablecoins could be tied to some universally recognized instrument, “for example, gold, the value of which is clear and observable to all participants.” He added that such an innovation would require additional regulation, and the department is only looking for approaches to it, as there are no ready-made solutions.

Earlier, Vladimir Gutenev, a deputy from the United Russia party, said that reports on the possible legalization of cross-border crypto payments and construction of new BitRiver data centers in Buryatia and Yakutia confirm the need for cryptocurrencies to circumvent sanctions restrictions.

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