The Russian government is considering stablecoins backed by the ruble, aiming to explore alternative digital currencies. Sergey Mendeleev presented seven crucial features needed for a Tether-like stablecoin at a recent Blockchain Forum.
Mendeleev emphasized that essential characteristics include facilitating untraceable transactions, excess liquidity on exchanges, and enabling users to earn interest through smart contracts, despite current regulatory hurdles.
While the feasibility of a Russian version of USDT exists, regulatory challenges pose significant barriers. Trust among users is necessary for its acceptance, as the digital ruble project continues to progress toward its launch.
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