The Russian central bank will consider the proposal to create a cryptocurrency of gold endorsement

According to the Tass news agency, on May 23, Elvira Nabiullina, president of the Bank of Russia, said the central bank would consider a proposal for cryptocurrency. The proposal states that a cryptocurrency endorsed by gold can be created to support settlement with other countries. Nabiullina said at the State Duma, "Of course we will consider the proposal for joint settlement between countries. But in my opinion, it is more important to seek a solution in the local currency." She added that the Russian central bank is opposed to the use of cryptocurrencies in the country's monetary system. Moreover, under the framework of the Eurasian Economic Union, the currency settlement of various countries is developing and in good condition.