Anatoly Aksakov: “Russian commodity companies will issue stablecoins in the first half of 2021”

Anatoly Aksakov, Chairman of the State Duma Committee on the Financial Market, said that Russian commodity companies plan to start issuing stablecoins in the first half of 2021.

As Anatoly Aksakov said at an online conference in TASS, large Russian commodity companies will begin to issue their own digital assets backed by physical goods in the first half of next year.

“Large Russian companies are interested in issuing stablecoins. These are companies that are engaged in the extraction of raw materials, the supply of metals, including precious metals, to the domestic and foreign markets, ”he said.

According to the chairman of the State Duma committee, the development of the first information systems has already been completed, which will allow the release of such stablecoins, and they are beginning to “fill with content.”

Apparently, the issuance of stablecoins by commodity companies is tied to the date of entry into force of the Law on Digital Financial Assets (DFA), which was adopted by the State Duma in the third reading this week and is now due to pass the Federation Council and receive the president’s signature.

As Anatoly Aksakov explained earlier , in accordance with the new law, users will be able to buy digital financial assets from Russian credit institutions, but only on condition that they are issued in accordance with the legislation of the Russian Federation.

Recall that in February, the Bank of Russia completed testing a blockchain-based platform created by MMC Norilsk Nickel for tokenizing assets in its sandbox. Then it was reported that the site will begin work after the adoption of the law on the CFA.

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