OREANDA-NEWS In the Russian financial market gold in digital form may appear from 2023, says "Kommersant" referring to the sources.

St. Petersburg Currency Exchange may start trading "digital certificates" for gold bars stored in the banks already from 2023. It is understood that the gold bar will be registered on a special digital platform, after which it will have a semblance of a "digital certificate". Then the bullion could be sold without moving the accounts, the newspaper's interlocutor said.

Other sources of the newspaper added that SPCEX plans to work with digital financial assets. In addition, the exchange is interested in the circulation of cryptocurrencies and has already purchased computing power of $3.5 million.

Lawyers agreed that within the framework of the existing regulation the created mechanism goes beyond the CFA. That is, according to the CFA law it is physically impossible to receive bullion. But if physical receipt of gold is assumed, the legislation must be changed.

Earlier, analysts at the VEB.RF Institute for Research and Expertise suggested that against the background of financial sanctions imposed on Russia, the country should create a gold-backed stabelcoin under the working name "gold ruble".