Russian Ministry of Finance Plans to Introduce Stablecoin Bill, Citing "Huge Potential"

Odaily News: Officials from the Russian Ministry of Finance have stated they are considering introducing a separate stablecoin bill, rather than including stablecoins in the upcoming cryptocurrency exchange regulations. Alexey Yakovlev, Director of the Financial Policy Department at the Ministry of Finance, said stablecoins possess "huge, even enormous potential."

Russia has already viewed stablecoins as a potential tool to circumvent sanctions. Yakovlev mentioned that after the State Duma passes the bill prohibiting citizens from trading crypto assets on platforms without operating licenses, they will proceed with stablecoin regulation. This crypto bill is expected to be submitted to the State Duma during the spring session and could take effect as early as July.

Currently, stablecoins have no legal status in Russian law, and the Ministry of Finance expressed a desire to resolve this issue as soon as possible. Yakovlev stated that the government wants to ensure stablecoins "serve economic interests, especially domestic ones." Previously, the Russian central bank 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 DefiLlama data, the total value of issued stablecoins has risen by over 51% since the beginning of 2025, reaching $311 billion.