Russia’s Central Bank Opposes Recognition of Stablecoins as a Means of Payment

Alexei Zabotkin, Deputy Chairman of the Central Bank of Russia, has said that the Central Bank of Russian believes it is impossible to recognize cryptocurrencies and stablecoins as means of payment.

He has also talked about the progress of work on the creation of the crypto ruble. According to him, non-residents will be able to connect digital wallets, but not immediately after the appearance of the token.

The whole process will take some time, and first of all, the regulator will provide an opportunity to issue a wallet to Russian citizens and companies.

Opportunities for non-residents will depend on the macroeconomic and foreign policy environment. The Bank of Russia has a negative attitude not only to Bitcoin, but also to stablecoins that are pegged to fiat currencies.