Deputy Finance Minister Ivan Chebeskov said retail investors will be allowed to access USDC alongside Bitcoin, Ethereum and USDT as Moscow finalizes crypto rules due by July 1, 2026.
Russia is preparing to include Circle’s USDC on a list of cryptocurrencies approved for trading, expanding beyond the assets previously flagged by the Central Bank of Russia. Deputy Finance Minister Ivan Chebeskov said the lineup for non-qualified investors is expected to include Bitcoin, Ethereum, USDT and USDC, with eligibility tied to coins that have maintained average capitalization above 5 trillion rubles, or nearly $70 billion, over two years. He also indicated that smaller fiat-backed stablecoins could be admitted if they are issued in friendly jurisdictions, citing ruble- and dirham-linked tokens as examples. The move comes as Moscow works to complete a broader crypto law by July 1, 2026, after years of debate over whether to ban or regulate digital assets. Under the draft framework, Russians would be able to invest and trade crypto legally for the first time, though non-qualified investors would face a 300,000-ruble annual cap. Chebeskov said daily cryptocurrency turnover in Russia is about 50 billion rubles, or close to $695 million, underscoring what officials describe as strong domestic interest in the market.