The Ministry of Finance of Russia announced support for the circulation of stablecoins in Russia
The representative of the department believes that the blockchain sphere potentially makes it possible to create a completely new financial system
The Ministry of Finance of Russia generally supports the possibility of applying for stablecoins in the country, said Ivan Chebeskov, director of the Financial Policy Department of the Ministry of Finance, during the session "The impact of Web3 - a new era of the Internet of Trust?", organized as part of the Russian Creative Week. According to the official, the department looks at this issue from the point of view of entrepreneurs.
"If there is a need for businesses, companies or investors to pay off, invest in a new way, if they need such a tool, because it reduces costs, works better than previous tools and if we can limit the risks associated with it, then we will always support such initiatives"- Chebeskov said.
The representative of the Ministry of Finance noted that blockchain in general, as well as crypto assets, digitalization and tokenization, potentially make it possible to create a completely new financial system. But we cannot be completely sure that it will be able to work better than existing financial systems, Chebeskov said.
In mid-June, the head of the Bank of Russia, Elvira Nabiullina, said that cryptocurrencies can be used in international payments if they "do not penetrate" the Russian financial system. At the same time, the representative of the Ministry of Finance noted that settlements in cryptocurrency are possible under small contracts with friendly countries.
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