Iran, Russia discuss creation of joint gold-backed Stablecoin

Alexander Brazhnikov told Vedomosti that the coin would be pegged to gold (i.e. a stablecoin).

The potential coin would work in a special economic zone in Astrakhan, where Russia has begun to accept Iranian cargo, Meduza reported. 

The existence of the negotiations was confirmed by Duma deputy Anton Tkachev, who is a member of the Committee on Information Policy, Information Technology and Communications.

Tkachev noted that the topic would only be discussed at the state level after cryptocurrencies are fully regulated in Russia, which should happen sometime in 2023.

The Central Bank of Russia is against the use of cryptocurrencies as a means of payment within the country. However, it supports the use of cryptocurrency in import and export transactions.

SKH/PR