Russian Ministry of Finance invites you to create a national stablecoin

By Hannah Pérez

Russia should have its own stablcoins similar to USDT, said a senior official of the Russian Ministry of Finance after Tether blocked funds linked to a Russian exchange.

***

• Russia should have your own Stablecoin, suggests an official of the Russian Ministry of Finance.
• The call occurs in response to the USDT blocking linked to a sanctioned Russian exchange.
• Russian companies already use cryptocurrencies for the payment of international agreements.

---

Russia should have one or more Stablecoins own, according to a call from the Ministry of Finance.

A senior official ofThe Russian Ministry of Finance has proposed the development of one or several national currencies, –A type of token with parity in a real asset, often a sovereign currency like the dollar–as reported Reuters on Wednesday.

The proposal occurs in response to freezing last month of digital wallets linked to Russia that handle funds in the Stablecoin USDT of Tether, A token backed by the US dollar.

Osman Kabaloev, Deputy Chief of the Department of Financial Policy of the Ministry of Finance, suggested that the Stablecoins Russia could be linked to other fiduciary currencies such as ruble, specifically non -American currencies.

“The recent block makes us think that we must consider the creation of internal tools similar to the USDT, possibly linked to other currencies“Kabaloev said, who occupies the position as deputy director of the aforementioned department.

At the beginning of March, it was reported that Tether He had frozen USD $ 28 million in funds from your Stablecoin USDT in directions associated with the exchange of Russian cryptocurrencies Guarantorxsanctioned by the Western authorities for their ties with the Russian government and criminal organizations. The measure caused the exchange to suspend its operations.

Guarantorxwhich had already been sanctioned by the US government. In 2022, it was incorporated into the blacklist of the European Union in March marking the first sanction of the block to an exchange of cryptocurrencies.

Tetherbeing a centralized issuer, has the power to block USDT addresses when authorities suspect or recognize their use in criminal activities. Freezing or blocking is the action of disabling access to these funds in digital currency.

Russia moves towards cryptocurrencies

Russia’s alternative to create his own Stablecoins It occurs at a time of key geopolitical changes, marked on the one hand by the commercial tariffs of Donald Trump in the United States, as well as for its pro-descriptomoned approach.

Trump has expressed his intention to boost the use of Stablecoins linked to US dollar of private emitters with the broadest ambition to strengthen the position of the national currency. The president has put among his cryptocurrency policy priorities in 2025 sign a law to regulate the Stablecoins.

Trump’s tariff policy and the worsening of commercial relations with partners such as China, has weakened the dollar, with some experts projecting that the currency could lose its hegemonic and international reserve status.

Countries with higher tariff –and rivals – From the West they have already been moving.

Russia in particular, began to use cryptocurrencies as payment mechanisms for cross -border agreements at the end of last year, after legislative changes that allow such use. Russia’s Minister of Finance, Anton Siluanov, revealed in December the use of Bitcoin and other digital assets by local companies to send and receive international payments.

More recently it was reported that China and Russia are establishing energy agreements with payments in Bitcoin.

The head of the Central Bank of Russia, Elvira Nabiullina, who opposes the use of cryptocurrencies in payments, said that Russian companies are actively testing the international cryptocurrency payments as part of these efforts, according to Reuters.

---

Hannah Estefanía Pérez / Diariobitcoin

Image of Unspash

WARNING: Diariobitcoin offers informative and educational content on various topics, including cryptocurrencies, AI, technology and regulations. We do not provide financial advice. Cryptactive investments are high risk and may not be adequate for all. Investigate, consult an expert and verify the applicable legislation before investing. I could lose all its capital.