The Advisory Board on Digital Economy Development under the Federation Council recommended that the Ministry of Justice and the Bank of Russia consider legislative changes to allow the use of cryptocurrency, including stablecoins, as collateral in Russia. The assets should be used within the legal Russian crypto framework.

Issuer Jurisdiction and Blocking Risks

The proposal suggests taking into account the issuer's jurisdiction due to risks of blocking and sanctions restrictions.

Accounting Rules and Investigation of Violations

The authorities also intend to develop rules for the accounting of cryptocurrencies and mechanisms for investigating violations related to such assets.