Russia Plans Separate Legislation to Regulate Stablecoins, Potentially Effective as Early as July

Odaily News According to reports, the Russian Ministry of Finance is planning to introduce a separate stablecoin bill, rather than incorporating stablecoins into the upcoming cryptocurrency exchange law. Alexey Yakovlev, Director of the Financial Policy Department at the Ministry of Finance, stated that stablecoins "have enormous—even staggering potential."

It is reported that the bill will be submitted during the spring session of the State Duma and could take effect as early as July this year. Currently, stablecoins have no clear legal status under Russian law. The Ministry of Finance hopes to clarify their regulatory framework as soon as possible to ensure that issuance aligns with economic interests, particularly domestic ones. Yakovlev emphasized that the government will continue discussions with the central bank and market participants and plans to regulate stablecoins in an independent and separate manner after the main cryptocurrency regulations are introduced.

Data from DefiLlama shows that since the beginning of 2025, the total amount of stablecoins issued globally has grown by over 51%, reaching $311 billion. This move by Russia is also seen as a significant step toward legitimizing crypto assets under sanctions pressure. (DL News)