Media: Sberbank of Russia may consider issuing stablecoins

According to a report by the local Russian media Kommersant, Sergey Popov, head of transaction business at Sberbank, said that the bank is likely to be able to issue stablecoins linked to the Russian ruble under the newly passed Digital Financial Assets Act, which may become involved. The settlement basis or tool of other digital financial assets. Chain Wen previously reported that at the end of July, Russian President Vladimir Putin signed a digital financial asset bill regulating digital assets and cryptocurrencies, granting cryptocurrencies the legal status of assets and legalizing digital asset transactions, but will prohibit the country. Use cryptocurrency as a means of payment. The bill also contains a statement that Russian companies can issue digital securities through the blockchain, provided that the approval of the Russian Central Bank must be obtained. The law is scheduled to take effect in January 2021. Links note that the Russian Federal Reserve Bank was established in 1841 and is Russia’s largest state-owned commercial bank, occupying more than a quarter of domestic bank assets.