TechFlow News, March 5: According to Dlnews, Russia’s Ministry of Finance is considering introducing a standalone stablecoin bill rather than incorporating stablecoins into the upcoming cryptocurrency exchange regulations. Alexey Yakovlev, head of the Ministry’s Department of Financial Policy, stated that stablecoins “have enormous—even huge—potential.”
Russia has identified stablecoins as a potential tool for circumventing sanctions, and the Kremlin is accelerating efforts to legalize this sector. Yakovlev noted that once the primary cryptocurrency regulations come into effect, stablecoins will be subject to separate regulation. The new cryptocurrency bill is expected to be submitted to the State Duma in spring and could enter into force as early as July.
