Russian Central Bank Governor: Cautious on Stablecoins, Prioritizes Digital Ruble

According to bits.media, Russian Central Bank Governor Elvira Nabiullina stated at the Russian Central Bank Financial Congress that the central bank is studying the possibility of using stablecoins for cross-border settlements, but only as a supplementary tool to the digital ruble, expressing "caution" regarding their application in domestic settlements. The central bank has proposed a stablecoin regulatory framework, requiring all transactions to be conducted through legal exchanges or exchangers under state supervision. Currently, the Russian State Duma is deliberating a cryptocurrency regulatory bill, but clauses on state control of stablecoins have not yet been included; the law originally scheduled to take effect on July 1 has not yet completed its second and third readings.