Copy link
Increase text size
Decrease text size
Link copied

Bank of Russia to review proposal on gold-backed cryptocurrency

Fri, 24 May 2019, 09:36 am UTC

A proposal on a gold-backed cryptocurrency will be reviewed by the central bank of Russia, Bank of Russia Governor Elvira Nabiullina was quoted saying by TASS.

The crypto is intended to help facilitate mutual settlements with other countries. Nabiullina, however, noted that fiat currency settlements in the Eurasian Economic Union framework are currently developing and have “good dynamics.”

"As for mutual settlements, we will consider, of course, your proposal on what a gold-backed cryptocurrency. But, in my opinion, it is more important to develop settlements in national currencies," she said at the State Duma.

Nabiullina emphasized that the central bank is against the use of cryptocurrencies in the countries monetary system.

"We are generally opposed to cryptocurrencies being launched into our monetary system. We do not see the possibility that cryptocurrencies could act as monetary surrogates. Definitely not in this part," she said.

This development is rather surprising, given the Russian government’s anti-crypto stance in the past couple of years. CoinDesk reported that the country blocked websites selling cryptocurrencies back in 2017 and even blocked media websites covering this emerging new sector in 2015.

However, starting in 2017, the government started to somewhat soften its stance with efforts to introduce cryptocurrency regulation. A law on digital assets could be passed in the spring session of Duma, TASS reported.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
  • Moses
  • 2020.05.12 16:32:16
I am a cryptocurrency trader and i make over 200% daily, If you are interested,i can teach you how to trade and also help you achieve your goal in life with crypto i can turn
$4500 into $35000 in less then four weeks,now that bitcoin has low prices...please note that cryptocurrency trading is bitcoin unlike binary and Forex,bitcoin is traded for altcoins also you can reach to me if you are new to bitcoin and to give you more info and guideline on how to invest smartly, this is opportunity life time knocking on your door inbox me for more info....contact me on whatsapp :+12067425358 happy new year to you all ...........................................................................................................
  • 0
  • ·
  • 0
More
  • Bitcoin (BTC) $9,232.16 (-0.38%)
  • Ethereum (ETH) $239.56 (-0.84%)
  • XRP (XRP) $0.224600 (+0.84%)
  • Bitcoin Cash (BCH) $231.45 (-2.12%)
  • Bitcoin SV (BSV) $181.16 (-2.12%)
  • Bitcoin (BTC) $9,232.16 (-0.38%)
Feb 21, 2020 (Friday)
12:01
Paxos launches blockchain-based securities settlement solution with Credit Suisse and Instinet
12:00
Brazil to launch new payment system in response to cryptocurrencies
11:59
Digital currency exchange Coinbase Pro lists Kyber Network token
11:57
Norwegian Air to soon start accepting crypto payments
10:21
Swedish central bank begins CBDC pilot with Accenture
09:51
Italian soccer team Juventus launches ethereum-based digital collectibles with Sorare
Feb 20, 2020 (Thursday)
14:16
Telecom companies complete cross-carrier mobile payments using blockchain
11:53
National Stock Exchange of Australia to develop DLT-based digital securities trading platform
11:00
South Korean ICO project discontinued, to return $7.5M to token holders
10:36
Samsung maintains crypto support in soon-to-launch Galaxy S20
09:41
BIS appoints Innovation Hub heads to lead Singapore and Switzerland
09:15
Coinbase becomes first crypto company to receive Visa principal membership
08:59
Dubai Economy and six banks launch KYC Blockchain Consortium
08:26
Crypto Technicals: ETH/USD under downside pressure after 'Bearish Engulfing' pattern
07:12
Tim Draper buys $1M worth of Aragon Tokens to create digital courts for DAOs
06:13
Renewable energy firm Acciona commits to take CBI’s blockchain-based carbon credits trading platform global
05:02
Crypto Technicals: BTC/USD trades below 21-EMA, break below 4H 200 MA (9386) to trigger further downside
04:56
Crypto exchange Coinfloor to launch a simplified bitcoin buying service
04:35
Indonesia’s customs department joins IBM- Maersk blockchain shipping platform “TradeLens”
Feb 19, 2020 (Wednesday)
12:46
Crypto custodian BitGo acquires digital securities startup Harbor
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft