Russian Ministry of Finance demands the emergence of its own stable coin in response to international sanctions

Russian Ministry of Finance demands the emergence of its own stable coin in response to international sanctions

Development of their own stable coin: Russian finance officers call for measures

The discussion about creating its own stable coin in Russia has gained in importance. Osman Kabaloev, an official of the Russian Ministry of Finance, said during an interview that a national cryptocurrency was necessary. The main reason for this requirement is the persistent sanctions against Russia, which endanger the country's economic stability and liquidity.

stablecoins, digital currencies that are linked to real assets such as US dollars or precious metals could help Russia simplify financial transactions and maintain international trade. Kabaloev's proposal could also bring part of a broader strategy to adapt the Russian economy to the challenges caused by geopolitical tensions and economic isolation.

The initiative for the development of a stable coin could also create a framework for the regulation of cryptocurrencies in Russia, which is also an important measure in view of the increasing importance of digital currencies and blockchain technologies in the global economy.

Overall, the demand for its own stablecoin indicates that Russia endeavors to strengthen its independence in digital finance and to counteract the long -term economic effects of sanctions. It remains to be seen which specific steps the Ministry of Finance will take on this matter.