Russian Authorities to Issue Crypto Ruble Stablecoin
November 13, 2018
The government of the Russian Federation is going to launch national digital currency called crypto ruble after correspronding bill on digital assets is enacted, according to the statement by the chairman of State Duma Committee on Financial Markets Anatoly Aksakov.
As he put it, crypto ruble will serve as a stablecoin backed by the country’s fiat currency. In addition, fiat will be convertible in banks to digital rubles 1:1 that can be later used to pay for goods and services.
Anatoly Aksakov believes the crypto ruble is likely to be used later instead of fiat provided blockchain being due in no small part to the Russian economics. As the statement run, the government has already started considering this idea.
This information comes in contradiction though with the stance by Dmitry Peskov, the Russian president’s special representative on digital and technological development voiced early autumn when he claimed that launch of digital currencies and their turnover does not correspond to the basic functions of the government.