Russian Duma Weighs up Creation of “CryptoRuble” State-Backed Stablecoin-9.66

The Russian Duma is considering a new Ruble-based stablecoin. According to reports from Russian radio news station Govorit Moskva, the chairman of Russia’s State Duma Committee on Financial Markets announced that the Russian government will likely press forward with a national cryptocurrency.

Anatoly Aksakov told a press conference that the Duma is working on a plan for a Russian cryptocurrency, “but it will be a ruble-pegged cryptocurrency.” Instead of creating a new currency that would compete directly with other cryptos, the ‘Crypto Ruble’ would be pegged at 1:1 to the fiat ruble.

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