Russia will develop a cryptocurrency backed by gold
The Central Bank of Russia is developing a digital currency backed by gold reserves to facilitate international business operations
The Russian cryptoactive will be used to carry out financial transactions between countries. Although the authorities of the nation maintain that the use of digital currencies still can not be considered as a substitute for fiat money.
Elvira Nabiullina, president of the Central Bank of Russia, said that the institution will review a proposal for the launch of a cryptographic currency that operates under the ecosystem. “As for the mutual agreements, we will, of course, consider the proposal for the creation of a cryptocurrency backed by gold. But, in my opinion, it is more important to develop agreements in national currencies.”
The leader also added that the fiat money settlement systems within the Eurasian Economic Union are improving and have “good dynamics”.
Undoubtedly, the news generates surprise in the community, since the government of Russia has been famous for fighting actively and aggressively against the use of cryptography.
Meanwhile, President Vladimir Putin demanded that regulators prepared a bill that is capable of addressing the issue of operations with digital currencies in the country. This project should be ready by the middle of the current year.
L.Sáenz
Source: Diario Bitcoin
