Russian central bank to consider gold-backed cryptocurrency
Russia's central bank is considering using a gold-back cryptocurrency for international settlements, according to CoinDesk. As Elvira Nabiullina, governor of the Bank of Russia, said at the State Duma, "As for mutual settlements, we will consider, of course, [the] proposal on … a gold-backed cryptocurrency. But, in my opinion, it is more important to develop settlements in national currencies.” Nabiullina also shot down the idea of cryptocurrency within Russia's monetary system, calling it undesirable.
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