The free circulation of cryptocurrencies must not be allowed as they carry risks for unqualified investors, but Russia may permit the use of gold-backed stablecoins and the mining of cryptocurrencies under government control, the Chairman of the State Duma Committee on Industry and Trade, Vladimir Gutenev, told the RIA Novosti news agency. Mining and Some Stablecoins Can Be Legalized in Russia, Duma Deputy Insists
Cryptocurrencies should be banned, Gutenev agreed, but Russia could make use of a stablecoin denominated in gold and under state control. Such a financial product would be an interesting proposition for both private investors and companies. It can also be used for saving, the deputy said, quoted by the Prime business news portal.
On Thursday, The Central Bank of Russia (CBR) published a consultation paper in which it presented its comprehensive view on cryptocurrencies. The monetary authority proposed to prohibit coin operations through the Russian financial system, crypto…