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Russia's Finance Ministry Opposes Dollar-Denominated Stablecoin Trading; USDT and USDC Face Freeze Risk

Regulation & Policy Geopolitics Security Incidents

2026-06-04 01:08:00

USDC-0.02%

According to Ivan Chebeskov, Deputy Finance Minister of Russia, on June 4, the Russian Finance Ministry opposes allowing dollar-denominated stablecoins to be traded in the country. Chebeskov warned that if USDT and USDC were permitted, issuers could directly freeze assets in user wallets, with documented cases of U.S. dollar stablecoins already frozen for Russian legal entities. The Finance Ministry is developing specialized legislation prioritizing ruble-linked and friendly-nation currency tokens, with the central bank retaining authority to adjust the approved list.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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