Rússia avança na regulamentação de stablecoins: o que esperar do novo marco legal

O governo russo está finalizando a estrutura legal para stablecoins—potencialmente transformando o cenário de criptomoedas no país.

Regulamentação em andamento

Autoridades financeiras moscovitas trabalham em diretrizes específicas para moedas digitais lastreadas em ativos reais. O movimento segue tendência global de legitimação de criptoativos—mas com o tradicional rigor regulatório russo.

Impacto no mercado

Especialistas preveem que a regulamentação pode atrair investimentos institucionais e aumentar a adoção corporativa. Bancos locais já demonstram interesse em emitir suas próprias stablecoins para pagamentos cross-border.

O Banco Central da Rússia mantém cautela—exigindo reservas auditáveis e compliance anti-lavagem de dinheiro. A FSA (autoridade do mercado financeiro) deve supervisionar as emissões.

Enquanto isso, traders aguardam ansiosos—vendo outra nação abraçar a realidade inevitável: dólares digitais chegaram para ficar, mesmo que os reguladores ainda tentem entendê-los.

Russia mulling regulations for stablecoins

While decentralized cryptocurrencies like Bitcoin are far from becoming mainstream in Russia, officials are now “actively discussing” the regulation of fiat-pegged stablecoins, local media revealed.

The Ministry of Finance (Minfin) and the Central Bank of Russia (CBR) are also considering additional rules for digital asset investments, a high-ranking representative of the Treasury revealed, quoted by the TASS news agency.

Speaking on the sidelines of the Moscow Financial Forum (MFF), Deputy Finance Minister Ivan Chebeskov stated:

“We are witnessing the emergence of regulations in the area of stablecoins and digital financial assets globally. We are now strategically considering the creation of corresponding regulations in our country that would be consistent with the challenges and conditions existing around the world.”

Chebeskov also emphasized that Russia’s main financial regulatory bodies “are striving to ensure that regulation serves the interests of the Russian Federation, businesses, and citizens.”

Proposals for the regulation of these assets will be presented by the end of this year, he added, also quoted by the crypto news outlet Bits.media.

The development of clear and transparent rules will increase investor confidence and strengthen Russia’s position in the global market, the Minfin official insisted.

Bank of Russia preps rules for crypto securities

Meanwhile, other media reports unveiled that Russia’s monetary authority intends to formalize the legal regime for crypto-linked financial instruments, including securities.

The CBR has drafted a new regulation on securities and derivative financial instruments, the yield of which is tied to the value of cryptocurrencies, the Prime economic news agency announced Friday.

The document aims to “establish certainty regarding the legal regime for securities linked to the price of digital currency or other indicators calculated based on it.”

It also deals with “contracts representing settlement derivative financial instruments whose underlying assets are the price or rate of digital currency or other indicators calculated based on it,” according to an explanatory note published by the central bank.

The regulator makes it clear that these types of securities and derivatives are intended exclusively for qualified investors.

In May, the Bank of Russia authorized financial firms to offer derivative instruments, securities, and digital financial assets (DFAs) based on the value of cryptocurrencies to “highly qualified” investors.

Besides legal entities, private individuals can also be granted this status, as long as they can prove investments in securities and deposits exceeding 100 million rubles (approx. $1.2 million) or an annual income of more than 50 million rubles ($600,000).

Less than a month after issuing its circular, the CBR announced investors had already bought $16 million worth of Bitcoin futures offered by domestic financial institutions.

Earlier in September, the finance ministry proposed relaxing the requirements for investors admitted to the heavily restricted crypto market under a so-called “experimental legal regime” for crypto transactions.

The Bank of Russia wants to conclude talks with the Minfin on the regulation of crypto investments by the end of the year, according to a statement by its First Deputy Chairman Vladimir Chistyukhin. He told reporters during the financial forum in the Russian capital:

“We haven’t reached a final decision yet, but this is one of our priorities. I think we’ll complete the discussion this year.”

The CBR remains strongly opposed to allowing the free circulation of cryptocurrencies and stablecoins in the Russian economy, listing them as a major threat to Russia’s financial system in a recent report for the Kremlin and the government.

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