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Russia finance ministry official floats country making own stablecoins: Report

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Tether froze $27 million tied to Russian exchange Garantex, which a Russian finance official said should spur the country to make its own stablecoin.
According to a report by Russian news agency Interfax, Ivan Chebeskov, the director of the financial policy department at Russia's Finance Ministry, suggested that Russia could potentially issue its own stablecoins. This statement was made during a discussion at the Saint Petersburg International Legal Forum on May 11, 2023. Chebeskov highlighted that while the idea is under consideration, no final decision has been made yet. He also mentioned that the stablecoins could be pegged to gold or other assets, and this move is part of broader efforts to regulate and integrate cryptocurrencies within Russia's financial system.

Read the Full CoinTelegraph Article at:
[ https://cointelegraph.com/news/russia-finance-ministry-official-floats-country-making-own-stablecoins-report ]