The Communist Party of the Russian Federation proposed to legalize stablecoins for gold in Russia
State Duma deputies from the Communist Party faction proposed legalizing stable digital coins for gold in order to use these stablecoins for cross-border settlements.
The faction has submitted to Parliament a bill proposing to introduce a definition of gold-backed stablecoins into the law on Digital Financial Assets (CFA). The deputies of the Communist Party complain that the legal regime of stablecoins is currently not regulated in any way in the legislation. The CFA Law prohibits Russian firms and resident individuals from making payments in digital currency.
The Communists believe that due to the difficult foreign policy situation and sanctions, settlements between banks have become too unreliable. New payment mechanisms between companies are needed. The authors of the bill believe that a gold-backed stablecoin will be able to become a settlement currency within the framework of export transactions, without becoming a means of payment for work performed, services rendered, goods delivered, or a means of settlement between individuals in Russia.
Earlier, the head of the State Duma Committee on Financial Markets, Anatoly Aksakov, said that the parliament would pay maximum attention to bills on the regulation of cryptocurrencies and the digital ruble in the spring session.
Source: bits.media
