{"id":124470,"date":"2020-12-02T13:04:56","date_gmt":"2020-12-02T10:04:56","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/russian-central-bank-opposes-ruble-pegged-stablecoins\/"},"modified":"2020-12-02T13:04:56","modified_gmt":"2020-12-02T10:04:56","slug":"russian-central-bank-opposes-ruble-pegged-stablecoins","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/russian-central-bank-opposes-ruble-pegged-stablecoins\/","title":{"rendered":"# Russian central bank opposes ruble-pegged stablecoins"},"content":{"rendered":"

“# Russian central bank opposes ruble-pegged stablecoins <\/strong>”
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Senior officials at the Bank of Russia have come out against the issuance of private stablecoins pegged to the Russian ruble.<\/p>\n

Sergei Shvetsov, a first deputy governor of the Russian central bank, said that the bank aims to ban private firms from offering stablecoins backed by the country\u2019s fiat currency.\u00a0<\/p>\n

Russian crypto developers will only be able to use the Bank of Russia\u2019s digital ruble, Shvetsov said. According to a Nov. 30 report<\/a> by local news<\/a> agency Prime, the he said that this app<\/a>roach follows the \u201cphilosophy of the means of payment\u2019s uniqueness.\u201d<\/p>\n

Shvetsov referred to China\u2019s digital yuan-related regulations that criminalize the issuance of yuan-backed stablecoins by third parties:<\/p>\n

\u201cChina put a blanket ban on any yuan-pegged stablecoins. I think that we are not far from that. The bank will suppress everything that is positioned as a means of payment. We proceed from the premise that the ruble is the means of payment of the Russian Federation.\u201d<\/p><\/blockquote>\n

Olga Skorobogatova, another first deputy governor of the Bank of Russia, underscored<\/a> the technical difficulties of issuing a digital ruble:<\/p>\n

She said, \u201cSo far, not a single regulator has figured out how to restore rubles in case the smartphone is lost, for example, but precisely due to the fact that […] technologies are developing, we understand for ourselves that this issue can be worked out at the second stage. […] Technologically, this problem will have to be solved.”<\/p>\n

The Bank of Russia officially released a roadmap for the digital ruble in October 2020. According to the bank, a digital ruble should become an additional form of money alongside cash.<\/p>\n

On Nov. 30, Sberbank \u2014 the largest state-run bank in Russia \u2014 announced its plans to launch a new blockchain platform for trading and a native token called Sbercoin. Previously, Sberbank was reportedly considering launching its own stablecoin pegged to the Russian ruble.<\/p>\n

The Bank of Russia and Sberbank did not immedia<\/a>tely respond to Cointelegraph\u2019s request for comment.<\/p>\n<\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“# Russian central bank opposes ruble-pegged stablecoins ” Senior officials at the Bank of Russia have come out against the issuance of private stablecoins pegged to the Russian ruble. Sergei Shvetsov, a first deputy governor of the Russian central bank, said that the bank aims to ban private firms from offering stablecoins backed by the…<\/p>\n","protected":false},"author":1,"featured_media":124471,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2020-12\/2c0596a4-84d7-4031-9d2b-4f9d2420ce43.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75581,75046,75022,79786,82253,75493,71939,4973,70934,4975],"class_list":["post-124470","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bank-of-russia","tag-cbdc","tag-central-bank","tag-digital-asset","tag-sberbank","tag-stablecoin","tag-banks","tag-china","tag-regulation","tag-russia"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/124470","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=124470"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/124470\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/124471"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=124470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=124470"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=124470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}