Svmuu News: The Russian Ministry of Finance is planning to introduce a standalone stablecoin bill rather than incorporating stablecoins into the upcoming cryptocurrency exchange law. Alexey Yakovlev, head of the Ministry of Finance’s Financial Policy Department, stated that stablecoins “have enormous—even astonishing—potential.” It is reported that the bill will be submitted during the State Duma’s spring session and could take effect as early as July of this year. Currently, stablecoins have no clear legal status under Russian law, and the Ministry of Finance hopes to clarify their regulatory framework as soon as possible to ensure that their issuance aligns with economic interests, particularly domestic ones. Yakovlev emphasized that the government will continue discussions with the Central Bank and market participants, and plans to regulate stablecoins in a separate and independent manner following the enactment of the main cryptocurrency regulations. Data from DefiLlama shows that since early 2025, the total global supply of stablecoins has grown by over 51%, reaching $311 billion. Russia’s move is also seen as a significant step toward legalizing crypto assets amid sanctions pressure. (DL News)