The Russian Ministry of Finance plans to introduce a stablecoin bill, stating it has "great potential"

ChainCatcher reports that a Russian Finance Ministry official stated they are considering introducing an independent stablecoin bill rather than including stablecoins in the upcoming cryptocurrency exchange regulations. Alexey Yakovlev, Director of the Financial Policy Department of the Ministry of Finance, said that stablecoins have “huge or even extremely huge potential.” Russia has viewed stablecoins as a potential tool to bypass sanctions.

Yakovlev said that after the State Duma passes a bill banning citizens from trading cryptocurrencies on platforms without an operational license, they will begin to promote stablecoin regulation. The crypto legislation is expected to be submitted to the State Duma during the spring session and could come into effect as early as July. Currently, stablecoins have no legal status in Russian law, and the Ministry of Finance has expressed hope to resolve this issue quickly. Yakovlev stated that the government wants to ensure stablecoins “serve economic interests, especially domestic interests.” Previously, the Central Bank of Russia established a category called “foreign digital rights,” with the first approved stablecoin being the ruble-pegged A7A5 stablecoin, which was authorized for overseas trade in October last year.

According to market reports, since early 2025, the total value of issued stablecoins has increased by over 51%, reaching $311 billion.