The Ministry of Finance announced support for the circulation of stablecoins in Russia

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The representative of the department believes that the blockchain sphere potentially makes it possible to create a completely new financial system.

The Ministry of Finance of Russia generally supports the possibility of circulation for stablecoins in the country. Ivan Chebeskov, director of the Financial Policy Department of the Ministry of Finance, said about it during the session "The impact of Web3 — a new era of the Internet of Trust?", organized as part of the Russian Creative Week. According to the official, the department looks at this issue from the point of view of entrepreneurs.

"If there is a need for businesses, companies or investors to pay off, invest in a new way, if they need such a tool, because it reduces costs, works better than previous tools and if we can limit the risks associated with it, then we will always support such initiatives", said Chebeskov.

The representative of the Ministry of Finance noted that blockchain in general, as well as crypto assets, digitalization and tokenization, potentially make it possible to create a completely new financial system. But we cannot be completely sure that it will be able to work better than existing financial systems, said Chebeskov.

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