The Central Bank of Russia (CBR) is looking at ways to integrate crypto assets and blockchain technology into its local financial system amid a pile-on of global financial sanctions.
Its further development requires improved regulation.”
As for smart contract regulation, the central bank acknowledged that a legislative framework was already in effect — however, it proposes that Russian-created smart contracts be independently audited before being deployed.
CBR was also positive about the potential for tokenized off-chain assets.
However, the bank noted that legislation would need to be put in place to ensure a “legal connection” exists between the token holder and the token itself.
Source: Cointelegraph
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