According to the media and US news reports yesterday, the deputy from the Ministry of Finance, Alexei Moiseev, the new one stablecoin issued by Facebook ie Pound will not receive a ban from Russia.
In fact, the report states that nobody introduces a ban on employment for Libra. At the moment, many businesses are wondering when it will be possible to conduct one ICO in a legal and transparent manner. So Libra in Russia will certainly be allowed but regulated.
Libra cannot be used in Russia to make purchases
According to reports, the Russian government therefore intends to treat Libra as any foreign currency. So those who work on Russian territory can buy, hold or sell pounds. But no one will have the opportunity to use this currency for the payment of services and goods. The only possibility of payment in Russia in fact, for good and services is the use of the national currency ie the ruble.
In Russia, actually at the moment there is no real legislation that regulates the use of cryptocurrency and therefore at the moment the government tries to plug and apply the rules treating them more or less like foreign currencies. Perhaps in the future a plan will be launched to succeed in making the right one cryptocurrency regulation in the country, but the moment has not yet arrived.
In any case, in the current state of the Russian laws, Libra will not have a great field of maneuver and will not even present special privileges. This could cause a small obstacle to use and to diffusion of the stablecoin, as thought by Facebook plans.
Also because in this way it is offered the possibility of buying the asset and sell but without then this can actually be used. At the moment, Russia is the first country that has decided and clearly expressed what the treatment will be of the digital currency of Facebook.
