Russia plans to introduce a stablecoin bill, claiming it has "huge potential"

BlockBeats News, March 5 — The Russian Ministry of Finance is considering introducing an independent stablecoin legislation to regulate digital assets pegged to fiat currency. Alexey Yakovlev, Director of the Financial Policy Department of the Ministry of Finance, stated that stablecoins “have enormous, even astonishing potential.”

It is reported that Russia plans to advance stablecoin legislation separately from the upcoming crypto trading regulatory framework. The relevant crypto regulation bill is expected to be submitted to the State Duma for review in spring and may come into effect as early as July 1.

The Central Bank of Russia has previously classified stablecoins under the category of “foreign digital rights” and allowed some approved stablecoins to be used for cross-border trade settlements. By October 2025, the stablecoin A7A5, pegged to the ruble, has been approved for overseas trade.

Market analysts believe that amid Western sanctions, Russia is accelerating its crypto asset policies, and stablecoins may become an important tool for bypassing sanctions and conducting cross-border payments.