Russia plans to issue stable coins to promote international settlements

The head of the Russian monetary authority said that Russia has been able to issue stable coins to promote international settlements. Nabiullina, the governor of the Russian Central Bank, said that stablecoins will only be used in the experimental legal system for foreign trade settlements.
Sekin, deputy chairman of the Senate Digital Economy Development Committee, called for the development of stablecoin regulations to strengthen the ruble’s status in the digital field. He emphasized that the issuance and regulation of ruble-denominated stablecoins is of strategic significance to Russia. The legal status of stablecoins is currently undecided, hindering ruble-denominated issuance.