PANews reported on October 31 that, according to Cryptopolitan, the head of the Russian monetary authorities stated that stablecoins can be issued in Russia, following calls from senators for regulations governing stablecoins. Elvira Nabiullina, Governor of the Central Bank of Russia, told lawmakers on Thursday that the Russian Federation is now authorized to issue stablecoins, which, while beneficial for international settlements, are opposed to domestic payments and will only be permitted for use in experimental legal systems for foreign trade settlements. She also stated that conditions have been created for the international application of stablecoins and the attraction of foreign investment, and that amendments are being drafted to legalize cryptocurrency investment. Artem Sheikin, Vice Chairman of the Senate Committee on Digital Economy Development, believes that establishing rules would enhance the ruble's position in the digital realm and has submitted a request to the First Deputy Chairman of the Central Bank. Currently, the undetermined legal status of stablecoins hinders their ruble-denominated issuance. Sheikin called for the establishment of several rules, emphasizing the strategic importance of developing methods for the issuance and regulation of ruble-denominated stablecoins for Russia.