Russian economist, A. Aksakov expects many big companies to release their own stablecoins next year

Russian economist, A. Aksakov expects many big companies to release their own stablecoins next year

From January 2021, a new law on digital financial assets will come into force in Russia, which brings a more favorable environment for crypto businesses.


23 Dec 2020 , 13:04 @ Katie Müller

Russian economist, A. Aksakov expects many big companies to release their own stablecoins next year

From January 2021, a new law on digital financial assets will come into force in Russia, which brings a more favorable environment for crypto businesses.

Anatoly Aksakov, one of Russia’s most famous economists and a member of Russia’s State Duma, has been facing questions from businessmen these days, who will be affected by the new law on digital financial assets.

These questions are part of a report that is published in the Parliamentary Gazette and contains several questions, the translation of this report was published by Finance Magnates.

A. Aksakov first expressed sympathy for the digital ruble and said:

From my point of view, the digital ruble is one of the future forms of our ruble, and it should contribute to the development of the financial asset market,

One of the main reasons why entrepreneurs and companies are beginning to take an interest in digital assets at this time is the forthcoming introduction of a new law on digital financial assets, which will enter into force in January 2021.

Vladimir Putin signed the new law on digital financial assets on July 31 this year.

With digital assets soon to receive a final regulatory framework, many companies can start official business in this area.

The Russian economist expects that many large companies will issue their own stablecoins from the new year, and added:

A lot of big businesses have asked us to pass the law more quickly as they are excited to take advantage of the growing popularity of digital assets, and I know they’re going to produce stablecoins,

The Russian Federation is becoming increasingly aware of digital financial assets, as evidenced by a recent meeting of the Russian government at which Russian Prime Minister Mikhail Mishustin proposes to recognize digital financial assets as property.

Read also: Angela Merkel’s cabinet introduces all-electronic securities as part of the Blockchain strategy of the Germany

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