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The Russian State Duma expects the issuance of cryptocurrencies to increase in 2021

The Russian government assumes that more cryptocurrencies will be issued on the local market in 2021according to a senior official.

Anatoly Aksakov, a member of the Russian State Duma and a key representative of local cryptocurrency legislation, said so The State Duma Committee on Financial Markets expects the issuance of cryptocurrencies in Russia to increase following the passage of the country’s new cryptocurrency law on January 1, 2020. The law “On digital financial investments” passed in July 2020 has been passed. Gives legal status to cryptocurrencies, but prohibits it to the people Use cryptocurrencies like Bitcoin (BTC) as a means of payment.

Aksakov said so, according to a December 21 report by the state news agency Parlamentkaya Gazeta Many companies are expected to be issuing stablecoins soon::

“A lot of big companies have asked us to pass the law sooner and I know they will be making stablecoins.”

The Russian State Duma expects the issuance of cryptocurrencies to increase in 2021
The Russian State Duma expects the issuance of cryptocurrencies to increase in 2021

Aksakov not only predicted an increase in the issuance of cryptocurrencies in Russia, but also voiced his Optimism about the future of a digital ruble. “From my point of view, the digital ruble is one of the future forms of our ruble and should contribute to the development of the financial asset market“said the official.

However, It doesn’t seem clear whether local businesses could issue stable ruble parity coins..

As previously reported, the Russian central bank has officially released its plans to issue the central bank’s digital currency on October 13, 2020 with the assertion that The digital ruble would serve as an additional form of money alongside cash and traditional forms of digital fiat. In early December, this was said by a senior executive from the Bank of Russia The bank plans to ban private companies from offering stablecoins backed by the country’s fiat currency. The Bank of Russia did not reply to any of Cointelegraph’s questions for comment at press time.

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