Bank of Russia opposes private stablecoins in the country

2022.07.12 21:56

In a fresh episode of the longstanding battle between the Central Bank of Russia (CBR) and the country’s Ministry of Finance, representatives of the former have criticized the latter’s idea of supporting the stablecoins, which some private investors have sought to launch in the country.

According to local media, an unnamed representative of the central bank dismissed talk of Russia-based stablecoins, started last week by the Ministry of Finance’s director of financial policy department Ivan Chebeskov.

Bank of Russia opposes private stablecoins in the country