Bank of Russia Says Stablecoins Are Not Suitable for Settlements – Finance Bitcoin News
— Finance, Support, Ministry, Stablecoin, Bitcoin, Central, Stablecoins, Statement, Bank, Ruble — 1 min read
The Central Bank of Russia has spoken out against stablecoins, which it says are highly risky and not fit for payments. The monetary authority reacted to a statement by a top finance ministry official who suggested that his department would support the development of Russian stablecoins. The head of the finance ministry’s Financial Policy Department Ivan Chebeskov said that the ministry is taking the side of Russian business, when it comes to regulating digital currencies. The CBR has been actively developing a digital version of the national national fiat currency. Do you think Russia will legalize stablecoins and issue one pegged to the ruble? Share your expectations in the comments section below. Bitcoin.com does not provide investment, tax, legal, or accounting advice for any investment, Source