Russia’s Central Bank Ready to Test Stablecoins

Regulations news. Russia’s Central Bank has said it is ready to test stablecoins in regulatory sandbox conditions. The bank’s governor, Elvira Nabiullina, is known as one of Russia’s greatest arch-skeptics. But per Interfax, Nabiullina now says she wants companies who “want to issue tokens secured by assets” to test their coins in Russian sandboxes – with the possibility of attaining official approval.

The government of Uzbekistan looks set to push ahead with a tight crypto regulations drive, after announcing plans to severely restrict its citizens from buying cryptocurrencies. 

Per Cryptocurrency Tech, the National Agency for Project Management, a government agency that reports directly to the country’s president, wants to stop just short of an absolute ban. The agency states that Uzbek citizens who want to buy tokens will have to do so via one of two, highly regulated, license-holding cryptocurrency exchange platforms.

Moreover, would-be traders will have to be aged over 18 years and will have to navigate a number of strict know-your-customer compliance measures.

South Korea’s parliament looks set to table a debate on a forthcoming crypto regulations law for January, reports Paxnet. Leaders in the National Assembly state that they hope to enshrine the Financial Action Task Force (FATF)’s crypto guidelines into South Korean law. If passed, the draft Special Financial Transactions Information Act would be the nation’s first piece of crypto-specific legislation.

Russia’s Central Bank Ready to Test Stablecoins
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