Russian senators propose using crypto as loan collateral
- —The proposal was sent to the Justice Ministry and asks the Bank of Russia to review the legislation
- —Bitcoin, ether and stablecoins would be accepted as collateral
- —Senator Artem Sheikin says the mechanism would widen business collateral options
- —Stablecoins used as collateral must circulate in a "legal Russian crypto perimeter" and meet central bank rules
Why it matters: If adopted, crypto would become legal loan collateral in Russia, potentially boosting demand for BTC, ETH and stablecoins.
Source: BitNovosti