The Russian Ministry of Finance plans to introduce a stablecoin bill, calling it to have "great potential."
By: rootdata|2026/03/06 04:45:43
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Russian Ministry of Finance officials have stated that they are considering introducing a separate stablecoin bill, rather than incorporating stablecoins into the upcoming cryptocurrency exchange regulations. Alexey Yakovlev, head of the Financial Policy Department, stated that stablecoins have "huge, even extremely huge potential." Russia has viewed stablecoins as a potential tool to bypass sanctions.
Yakovlev mentioned that after the State Duma passes a bill prohibiting citizens from trading cryptocurrencies on platforms without operating licenses, they will begin to advance stablecoin regulation. The cryptocurrency bill is expected to be submitted to the State Duma during the spring session, potentially coming into effect as early as July. Currently, stablecoins do not have a legal status under Russian law, and the Ministry of Finance has expressed a desire to resolve this issue as soon as possible. Yakovlev stated that the government aims to ensure that stablecoins "serve economic interests, especially domestic interests." Previously, the Central Bank of Russia established a category for "foreign digital rights," with the first approved stablecoin being the ruble-pegged A7A5 stablecoin, which was authorized for use in overseas trade last October.
According to market news, the total value of issued stablecoins has increased by over 51% since the beginning of 2025, reaching $311 billion.
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