According to Russian media Vedomosti, Alexander Brazhnikov, executive director of the Russian Cryptocurrency Industry and Blockchain Association, said that the Central Bank of Iran is considering working with Russia to create a gold-backed stablecoin that can replace the dollar, ruble and Iranian currency. Riyal is used as a means of payment in foreign trade settlement. Anton Tkachev, a member of the Duma Committee on Information Policy, Information Technology and Communications, confirmed the fact of the negotiations, but pointed out that the issue will only be actively discussed at the state level after the full regulation of cryptocurrencies in Russia.