The Central Bank of Russia has clarified the distinctions between a stablecoin and the digital ruble, emphasizing that the latter is an official form of the national currency. The digital ruble is issued directly by the Central Bank.

Stablecoins, on the other hand, are crypto assets issued by various entities and used within the cryptocurrency industry for settlements. According to the regulator, a stablecoin is not considered money but rather a monetary surrogate, falling under the broader category of virtual assets.

A key characteristic of stablecoins is their value being pegged to an asset or basket of assets, such as gold, other cryptocurrencies, or exchange-traded commodities. The Central Bank notes that the most common peg is to the US dollar.