Thanks to strained relations between Russia and the West, the attitude towards
Developed jointly with the Ministry of Finance andRosfinmonitoring has almost approved the relevant draft law. According to Deputy Finance Minister Alexei Moiseev, the document will prescribe the framework for the use of cryptocurrencies, scenarios for their use and the mechanism for their purchase. The document should be finalized by the end of the year within the time frame set by Prime Minister Mikhail Mishustin.
The turnover of cryptocurrencies within the country will beis still banned, but foreign trade-related businesses will receive a green light for their use in export and import transactions. From the comments of Anatoly Aksakov, Chairman of the State Duma on the financial market, it follows that the authorities are considering bitcoin and other cryptocurrencies, including stablecoins. The latter would greatly simplify life, since they are based on fiat currencies, primarily dollars.
At the same time, the risks of sanctions are not excluded -At the beginning of the events around Ukraine, the US financial authorities directly pointed to the possibility of using digital assets to circumvent restrictive measures. In this regard, it is much easier to control issuers of “stable coins”, unlike bitcoin and Ethereum with their decentralized system. The latter, in turn, are too volatile. The option of linking digital assets to some real assets like gold is also being worked out.
Aaron ChomskyHead of Investment Department, ICB Fund
Implementation of the plans will require the creation of infrastructure. Earlier it became known that the pilot project of the domestic trading platform is being developed by Rostec. It may include commercial banks.