According to the head of the Central Bank of Russia, the corresponding mechanisms are provided for by current legislation.
Nabiullina noted that cryptocurrency cannot be used for settlements within Russia.
The Central Bank of Russia, together with the Ministry of Finance, is working on amendments to the legislation that will allow qualified investors to legally invest in crypto assets.
Previously, the Deputy Chairman of the Council for the Development of the Digital Economy under the Federation Council, Artem Sheikin, asked the Bank of Russia to develop its approach to regulating stablecoins.
In particular, he asked to outline the position of the Central Bank of Russia on key parameters of possible regulation: requirements for reserves and their placement, buyback procedures, audits and reporting of issuers, built-in financial monitoring, as well as permissible areas of application (including EPR and foreign trade settlements) while maintaining existing restrictions on the use of digital currency as a means of payment on the territory of the Russian Federation.
💡 Technological breakthrough: What lies behind the simple name POL?
Behind the name POL lies years of research and innovations from the team @Polygon . This is not just another ERC-20 standard token. It is a complex protocol that rethinks the very role of the native asset in multi-chain architecture.
Its ability to function safely across multiple chains while maintaining a unified economic model is a true technological marvel. This is what sets the Polygon ecosystem apart from competitors and lays the foundation for dominance in the L2 era.
🔬 Technical magic of POL:
· Next-generation staking protocol: Supports an unlimited number of chains.
· Inter-chain compatibility: Ensured at a fundamental level.
· Modularity: Developers can customize their interaction with $POL to their needs.
POL is not the next step; it is a leap two steps forward.
