Russia's finance ministry warns of USDT/USDC freeze risk, prioritizes ruble stablecoins

Russia's Ministry of Finance has expressed a negative stance on allowing dollar-pegged stablecoins to be traded within the country, Bits.media reported. Ivan Chebeskov, Russia's Deputy Minister of Finance, stated that foreign-issued stablecoins like USDT and USDC carry the risk of being frozen directly in user wallets. He added that Russia is currently prioritizing ruble-pegged stablecoins and those based on the currencies of friendly nations. The Russian government is considering separate legislation for stablecoins and is discussing which ones to permit in a state-controlled market, Chebeskov noted.