Governor of the Central Bank of Russia: Considering the use of stablecoins in cross-border settlements

According to Odaily, the Governor of the Central Bank of Russia stated at the Financial Parliament that the Central Bank is considering the use of stablecoins in cross-border settlements, but only as a supplement to the digital ruble. The Central Bank of Russia has concerns about the use of stablecoins in domestic settlements.

Currently, the Central Bank of Russia is discussing the launch of a state-controlled stablecoin pegged to the ruble, and is analyzing the appropriateness of combining such instruments with central bank digital currencies in cross-border transactions. In addition, last week, the Central Bank of Russia proposed regulatory rules for stablecoins, with the main idea to ensure all transactions are conducted under state control. (bits.media)