Russia may allow cryptocurrency mining and gold-backed stablecoins


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The free dissemination of digital forms of money should not be permitted as they convey chances for inadequate financial backers, yet Russia might allow the utilization of gold-supported stablecoins and the mining of digital forms of money under government control, the Chairman of the State Duma Committee on Industry and Trade, Vladimir Gutenev, told the RIA Novosti news office.

The Central Bank of Russia (CBR) distributed a conference paper in which it introduced its extensive view on cryptographic forms of money. The money related authority proposed to restrict coin tasks through the Russian monetary framework, crypto speculations, trade, and mining in the country. In the interim, the bank has sent off the pilot period of its own computerized ruble project.