The Russian Finance Ministry and Central Bank are collaborating on a framework for a Russian stablecoin and mapping out the types of transactions it could support. This was announced by Chebeskov.

Regulators Join Forces

According to Chebeskov, both agencies are hashing out a joint approach to the potential stablecoin—looking at how it should work and which operations should be allowed. It’s confirmed that the Finance Ministry and Central Bank are focused on the structure of the token and the boundaries for its use.

Operational Scope and Model Outline

The current stance comes down to two main tracks: defining the mechanism for the Russian stablecoin, and locking in the list of permitted transactions. Right now, financial regulators are still in the process of working out the details.