Russia Considers Cryptocurrency as Collateral for Securing Obligations

The Federation Council in Russia has proposed using cryptocurrency as collateral for securing obligations. This initiative aims to bring cryptocurrency operations into a more understandable legal framework and support their legal circulation.

The proposal suggests that digital assets could be used in collateral transactions, which would expand the set of tools for businesses to secure obligations. According to Senator Artem Sheikin, this will also make working with such assets more transparent and predictable.

The senator emphasized that stablecoins, if used in collateral operations, should circulate within the legal Russian cryptocurrency framework and comply with the requirements of the Central Bank. He also highlighted the importance of considering the jurisdiction of the issuer and circulation infrastructure to avoid potential risks.