Svmuu News: Russian Ministry of Finance officials have indicated that they are considering introducing a standalone stablecoin bill rather than incorporating stablecoins into the upcoming regulations for cryptocurrency exchanges. Alexey Yakovlev, Head of the Ministry of Finance’s Financial Policy Department, stated that stablecoins have “enormous, even immense, potential.” Russia has identified stablecoins as a potential tool for circumventing sanctions. Yakovlev said that once the State Duma passes a bill prohibiting citizens from trading crypto assets on platforms without operating licenses, the ministry will move forward with stablecoin regulation. The crypto bill is expected to be submitted to the State Duma during the spring session and could take effect as early as July. Currently, stablecoins have no legal status under Russian law, and the Ministry of Finance has expressed a desire to resolve this issue as soon as possible. Yakovlev stated that the government aims to ensure stablecoins “serve economic interests, particularly domestic ones.” Previously, the Bank of Russia established a “foreign digital rights” category, with the first approved stablecoin being the ruble-pegged A7A5, which was authorized for use in foreign trade last October. According to DefiLlama data, the total value of issued stablecoins has risen by over 51% since the beginning of 2025, reaching $311 billion.