Russia, Iran Studying Use of Digital Currencies for Export-Import Operations
© Sputnik / Evgeny BiyatovSouvenir coins with the cryptocurrency logos of Bitcoin, Litecoin and Ethereum
© Sputnik / Evgeny Biyatov/
MOSCOW (Sputnik) - Russia and Iran are studying the possibility of using digital currencies for export-import operations, but a regulatory framework is required, Russian Ambassador to Tehran Alexey Dedov said in an interview with Sputnik.
"The use of digital currencies and digital financial assets in settlements for export-import operations are being considered by both Russia and Iran. However, the process of reaching any specific agreements is still at the working stage," Dedov said.
He said the issue requires a thorough expert study, including the development of the necessary legal framework.
Earlier, a Russian business daily, citing Alexander Brazhnikov, Executive Director of the Russian Association of Cryptoindustry and Blockchain, reported that the Central Bank of Iran is considering the possibility, together with Russia, to create a Persian token, which could be accepted as a means of payment in foreign trade settlements between the countries instead of the US dollar, Russian ruble and Iranian rial. It is assumed that the token will be backed by gold, being a stablecoin.