Russia should develop its own stablecoins tied to different currencies. This was stated by Osman Kabaloev, Deputy Director of the Department of Financial Policy, according to Reuters.
His words came against the backdrop of the blocking of Russia-related 'stablecoins' USDT. This refers to the freezing of assets on the Garantex exchange by Tether.
Kabaloev noted that creating domestic instruments similar to USDT could solve problems with international settlements. He added that such stablecoins could be tied to currencies not linked to the dollar.
On March 7, the U.S. Department of Justice confirmed the blocking of Garantex domains and the freezing of $26 million in the platform's wallets.
For its part, the exchange team stated its intention to reimburse clients' crypto assets and invited them to their Moscow office.
Later, it became known about the transfer of user funds from Garantex to the Grinex platform. The latter began operation in the markets of Russia and the CIS at the end of March.#PowellRemarks #VoteToDelistOnBinance
