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Crypto NFT Today: The Latest News in Blockchain, Cryptocurrency, and NFTs: Jan. 18-24, 2022

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Russia and Iran Accomplice on Stablecoin Initiative

Russia and Iran are reportedly working collectively to create a stablecoin backed by gold. 

According to the Russian information company Vedomosti, Iran is working with Russia to create a “token of the Persian Gulf region” that may function a cost methodology in international commerce.

Russia lately began accepting Iraninan cargo shipments in a particular financial zone referred to as Astrakhan, and the proposed cryptocurrency would assist to facilitate the transactions within the area. 

Russia and Iran are among the many international locations that banned cryptocurrency transactions together with Bitcoin and Tether, however Russia’s decrease home of parliament lately introduced a promise to start out regulating crypto as soon as once more in 2023. 

Russian lawmaker Anton Tkachev, a member of the Committee on Data Coverage, Data Know-how and Communications, careworn {that a} joint stablecoin challenge would solely be doable as soon as the digital asset market is absolutely regulated in Russia.

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