The Ministry of Finance and the Bank of Russia are jointly developing a mechanism for the operation of a Russian stablecoin. For now, it's not about a ready-made bill, but about finding a model that will determine for which operations such an instrument can be used and what rules will be needed for it.

According to Deputy Minister of Finance Ivan Chebeskov, it is now important not just to create another digital asset, but to understand whether it will truly be in demand among businesses and users.

Separately, the agencies are assessing possible risks and limitations. This will determine the range of permitted operations and how the stablecoin will be integrated into the existing financial infrastructure.

There is no specific model yet. After assessing demand and risks, the Ministry of Finance and the Central Bank will be able to move on to discussing more detailed rules and possible legislative changes.