Russia plans to enact separate legislation to regulate stablecoins, which could take effect as early as July.

The Russian Ministry of Finance is planning to introduce a separate bill on stablecoins, rather than including them in the upcoming cryptocurrency exchange law. Alexey Yakovlev, head of the Ministry's Financial Policy Department, stated that stablecoins "have enormous—even staggering—potential." The bill is expected to be submitted to the State Duma's spring session and could take effect as early as July. Currently, stablecoins lack a clear legal status in Russia, and the Ministry of Finance hopes to clarify their regulatory framework as soon as possible, ensuring that issuance aligns with economic interests, particularly domestic interests. Yakovlev emphasized that the government will continue discussions with the central bank and market participants and plans to regulate stablecoins independently and separately after the enactment of major cryptocurrency regulations. DefiLlama data shows that since the beginning of 2025, the total amount of stablecoins issued globally has increased by more than 51%, reaching $311 billion. This move by Russia is also seen as an important step in pushing for the legalization of crypto assets under sanctions pressure. (DL News)