Russia plans to introduce a stablecoin bill and independently legislate to advance it

On March 5th, the Russian Ministry of Finance is considering introducing an independent stablecoin bill to regulate digital assets linked to fiat currencies. Alexey Yakovlev, Director of the Financial Policy Department of the Ministry of Finance, stated that stablecoins have enormous potential. Russia plans to separately promote stablecoin legislation outside the legal framework for regulating cryptocurrency trading. The relevant cryptocurrency regulatory bill is expected to be submitted to the State Duma for review in the spring and may take effect as early as July 1st. The Russian central bank has included stablecoins in the category of "foreign digital rights" and approved some stablecoins for cross-border trade settlement. In October 2025, the stablecoin A7A5 pegged to the ruble has been approved for overseas trade.