Russian central bank opposes ruble-pegged stablecoins

Russian central bank opposes ruble-pegged stablecoins

Russia wants to follow China’s approach of banning private stablecoins pegged to its national fiat currency. Senior officials at the Bank of Russia have come out against the issuance of private stablecoins pegged to the Russian ruble.Sergei Shvetsov, a first deputy governor of the Russian central bank, said that the bank aims to ban private firms from offering stablecoins backed by the country’s fiat currency. Russian crypto developers will only be able to use the Bank of Russia’s digital ruble, Shvetsov said. According to a Nov. 30 report by local news agency Prime, the he said that this....


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