Russia Announced Its Crypto Stablecoin After GENIUS Act
Russia didn’t wait long to clap back after the U.S. dropped its big stablecoin hammer with the GENIUS Act. Barely a month after the Senate passed the bill, Russia resurfaced with plans for RUBX, a state-backed crypto stablecoin.
While GENIUS Act aims to keep stablecoins under U.S. regulatory control, Russia’s RUBX move is all about sidestepping U.S. dominance. And let’s not forget A7A5 a ruble-pegged coin that already moved $9.3 billion.
