Russia’s Finance Ministry is drafting a standalone stablecoin bill, reflecting their significant potential, with work set to commence after laws banning unlicensed cryptocurrency trading are enacted. Director Alexey Yakovlev confirmed the draft is expected before the State Duma by July 2025, supporting Russia’s broader regulated crypto framework where licensed banks and brokers can trade under oversight, and certain stablecoins are already approved for cross-border use by the central bank.