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Deep Tide TechFlow News, March 5th, according to Dlnews, the Russian Ministry of Finance is considering introducing an independent stablecoin bill rather than including it in the upcoming cryptocurrency exchange regulations. Alexey Yakovlev, head of the Ministry of Finance's Financial Policy Department, stated that stablecoins "have enormous or even huge potential."
Russia has viewed stablecoins as a potential tool to bypass sanctions, and the Kremlin is accelerating the legalization of this sector. Yakovlev said that once the main cryptocurrency regulations are launched, they will be able to regulate stablecoins separately. The new cryptocurrency bill is expected to be submitted to the State Duma in spring and could come into effect as early as July.