The Central Bank of Russia has stated that it may issue a stablecoin in the context of numerous calls for regulatory enactment.

The Governor of the Central Bank of Russia, Ms. Elvira Nabiullina, confirmed that stablecoins can be issued in Russia, but emphasized that they are not allowed to be used for domestic payments, similar to cryptocurrencies. However, she stated that stablecoins can be used for international transactions and to attract foreign investment.

Senator Artem Sheikin calls for the establishment of a clear legal framework for ruble-pegged stablecoins, arguing that the lack of regulation drives demand into the uncontrolled sector and increases dependence on foreign systems. He proposed regulations on reserves, exchange processes, audits, and usage scope. Sheikin emphasized that ruble-backed stablecoins would strengthen the Russian currency in the digital space and reduce dependence on Western financial infrastructure.