TechFlow to a report by Dlnews on March 5th, the Russian Ministry of Finance is considering introducing a separate stablecoin bill, rather than incorporating it into the upcoming regulations for cryptocurrency exchanges. Alexey Yakovlev, head of the Ministry of Finance's financial policy department, stated that stablecoins "have huge, even enormous, potential."
Russia has viewed stablecoins as a potential tool for circumventing sanctions, and the Kremlin is accelerating the legalization of this sector. Yakovlev stated that once major cryptocurrency regulations are implemented, they will be able to regulate stablecoins independently. A new cryptocurrency bill is expected to be submitted to the State Duma in the spring and could take effect as early as July.
