Russia and Iran explore launch of joint cryptocurrency backed by gold - Finbold - Finance in Bold

In light of the advancements in digital assets and the pressures exerted on states, Russia and Iran are now exploring the development of a joint stablecoin that would be backed by gold.
The executive director of the Russian Association of the crypto industry and blockchain, Alexander Brazhnikov, revealed that the Central Bank of Iran is considering the creation of a stablecoin with the Russian Federation as a means of payment in transactions involving international trade, according to the local Russian news outlet Vedomosti.
Brazhnikov said that the coin’s value would be tied to gold (i.e., a stablecoin). Astrakhan is a free-trade zone where Russia has started accepting Iranian merchandise; therefore, the coin would be usable there.
Anton Tkachev, a member of the Duma and the Committee on Information Policy, Information Technology, and Communications, acknowledged the discussions’ existence. After cryptos are completely regulated in Russia, which should happen in 2023, Tkachev said the issue would be considered at the governmental level.
The Russian Central Bank does not support the usage of cryptocurrencies like Bitcoin (BTC) or Ethereum (ETH) as a method of payment anywhere inside the nation. On the other hand, it allows for the usage of cryptocurrencies in business dealings, including international trade.
Notably, following Russia’s full-scale invasion of Ukraine, the authorities of the European Union enacted a ban prohibiting European firms from offering any services linked to cryptocurrencies to residents of Russia.
Interestingly, in August 2022, Iran made the first-ever import of goods using cryptocurrency worth millions.

Intermediate Traders and Investors
Copyright © 2023 FINODES LLC. All rights reserved. Use of this site constitutes acceptance of our Terms of Service.
WARNING: The content on this site should not be considered investment advice. Investing is speculative. When investing your capital is at risk. This site is not intended for use in jurisdictions in which the trading or investments described are prohibited and should only be used by such persons and in such ways as are legally permitted. Your investment may not qualify for investor protection in your country or state of residence, so please conduct your own due diligence. This website is free for you to use but we may receive commission from the companies we feature on this site.

source

How To Make Huge Profits In A Short Time With Crypto
Get detailed training system that shows an absolute beginner (without any skill) how to make huge profits in a short time with crypto.