The Russian government is preparing for more cryptocurrencies to be released in the regional market in 2021, according to a senior official.Anatoly Aksakov, a member of the Russian State Duma and an essential agent of local crypto legislation efforts, said that the Dumas Committee on Financial Markets anticipates Russian crypto issuance to surge after the adoption of the countrys brand-new crypto law on Jan. 1, 2020. Passed in July 2020, the law “On Digital Financial Assets” provides legal status to crypto, but prohibits people from utilizing cryptocurrencies like Bitcoin (BTC) as a payment tool.According to a Dec. 21 report by state-run news company Parlamentskaya Gazeta, Aksakov stated that numerous business are anticipated to release stablecoins soon:” A lot of huge services have asked us to pass the law more quickly, and I understand that they are going to produce stablecoins. “From my point of view, the digital ruble is one of the future types of our ruble, and it should contribute to the advancement of the monetary possession market,” the main said.It appears to be unclear whether local business would be enabled to provide ruble-pegged stablecoins, however.As previously reported, Russian central bank officially released its strategies to issue the central bank digital currency on Oct. 13, 2020, declaring that a digital ruble would serve as an additional type of money alongside money and conventional kinds of digital fiat.
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