Russia: Introduced Bill amending Federal Law No. 259-FZ on Digital Financial Assets, Digital Currency to include secured stablecoins as digital financial assets (Bill No. 540256-8)

On 30 January 2024, the Bill amending Federal Law No. 259-FZ on Digital Financial Assets, Digital Currency to include secured stablecoins as digital financial assets was introduced at the State Duma, the lower house of the Russian Parliament. The Bill aims to classify secured stablecoins as digital financial assets and enable their use in foreign trade. The Bill defines secured stablecoins as a type of digital financial asset pegged to the value of gold and permits the use of secured stablecoins as a means of payment or other consideration for goods, services, and work under foreign trade contracts.