Gold-pegged stablecoin: Russia and Iran pursue a common plan



Investing.com – Russia appears to have taken a step forward in its efforts to use cryptocurrencies in international trade in the future.

Russian news agency Vedomosti reported yesterday that the Russian government is already cooperating with Iran’s central bank in this regard. In the end, it’s arguably a matter of ensuring trade between the two nations, regardless of the sanctions imposed on the two countries.

There is talk of a “Persian Gulf region token”, likely issued as a stablecoin and backed by . At least that’s what the president of the Russian crypto industry association, Alexander Brazhnikov, assumes.

According to the report, a suitable place for the handover of goods has already been found with the Astrakhan Free Trade Zone.

Russian MP Anton Tkachev remarked that a joint stablecoin project will only become a reality when the Russian cryptocurrency sector is sufficiently regulated. So far, Parliament has not provided definitive legal certainty in this area.

Until the start of the war in Ukraine, the Central Bank of the Russian Federation strictly refused cryptocurrencies. The payment problems that emerged with the sanctions, however, led to a change of course. Meanwhile, the central bank is supportive of the use of cryptocurrencies in international trade. However, trade must be prohibited within the country so as not to endanger the financial system.

By Marco Oehrl



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