Russia is exploring the use of stablecoins for international payments to mitigate the pressure of economic sanctions. Alexei Guznov, Deputy Governor of the Russian Central Bank, stated that discussions are underway to establish regulations for stablecoins. The aim is to create a legal framework for their use in cross-border transactions, potentially impacting Russia’s trade environment, particularly with Asian countries. This move coincides with ongoing discussions about the European Union’s Markets in Crypto-Assets (MiCA) regulations. Patrick Hansen, Head of Policy at Circle, predicts that the volume of euro-denominated stablecoin transactions will increase.
Source: news.bitcoin.com
