Official: Cbank most likely to limit deals in stablecoins

MOSCOW, Apr 1 (PRIME) -- The Russian central bank will most likely limit the use of stablecoins issued by commercial institutions for settlements, Ivan Zimin, head of the regulator’s department of financial technologies, said on Thursday.

“Digital currency is an unsecured cryptocurrency. The digital ruble is an obligation of the central bank, in fact a new form of money. If we speak about stablecoins, it another entity, only secured, issued by an institution or a company secured by obligations,” Zimin said.

The regulator said that neither a cryptocurrency nor stablecoins can be an official means of payment, only the digital ruble can be seen as such, he said.

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