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Russian gov’t dealing with stablecoin settlement stage between friendly countries: Government media

Stablecoin settlement

Russian gov't dealing with stablecoin settlement stage between friendly countries: Government media

Alexey Moiseev stated that “Stablecoin settlement can be secured to few naturally admitted tools, for example, gold and all the involved parties are clear and appreciable for the cost of gold.”

Stablecoin settlement stage between friendly countries

The Ministry of Finance of Russia has started to take steps on operating in agreement with the administrations of companion nations to set up a stablecoin settlement providing a platform of payment services across the border.

According to a report from a Russian based news business TASS owned by the government of Russia, according to the report the Deputy Finance Minister Alexey Moiseev stated that the administration was waiting for a chance to introduce the settlement platform to steer clear of the use of euros and U.S. dollars. According to the reports the finance minister stated that the Russian government would need to force some of the regulations to make the idea of the platform between itself and friendly countries come true — some possible countries are Belarus, North Korea and China.

According to the statement of Alexey Moiseev that “We provide collectively sufficient tokenized tools that will be used on these state media, which are fundamentally clearing media that we are presently developing Stablecoin settlement with friendly nations.” and “Stablecoin settlement can be secured to few naturally admitted tools, for example, gold and all the involved parties are clear and appreciable for the cost of gold.”

The United States and the European Union following the country’s invasion of Ukraine in February have always been targeting Russia with serious allegations. The European Union made an announcement in March it has a plan to blacklist the number of Russian banks from the community for Worldwide Interbank Financial Telecommunication, or messaging system, SWIFT,  and the U.S. Office of Foreign Assets Control counted many Russian commodities and residents to its list of Specifically Designated Nationals.

As the war in Ukraine is going on, according to the reports it is suggested that Russian government employees had been experimenting with using cryptocurrencies to get rid of the imposed allegations. In July, President Vladimir Putin signed a statement banning crypto assets as incomes into regulation, but the country’s central bank has reportedly thought of using digital assets for cross-border incomes.

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