Russia Finance Ministry Calls to Create Its Own Crypto Stablecoin

Russia Finance Ministry Calls to Create Its Own Crypto Stablecoin

Russia is reportedly eyeing the creation of its very own crypto stablecoin, following a statement from its Finance Ministry Wednesday

Russia considers issuing Tether-like stablecoin in wake of $30 million USDT freeze

The finance ministry in Moscow is now considering the creation of a Russian cryptocurrency similar to the U.S. dollar-pegged Tether (USDT), local media reported. The proposal to issue a domestic stablecoin comes after last month Tether blocked billions of rubles’ worth of crypto assets in wallets on a sanctioned Russian exchange. Finance ministry suggests launching Russian stablecoin The Ministry of Finance of the Russian Federation (Minfin) is …

An official linked to the Ministry of Finance says the country should consider an instrument similar to USDT. Read more

Russian Finance Ministry Official Suggests Country Should Create Its Own Stablecoin - Crypto News Flash

The deputy head of the Financial Policy Department has confirmed that Russian officials are considering creating a national stablecoin similar to USDT. This comes after Tether froze more than $30 million in USDT associated with Garantex, halting its operations and exposing Russia’s reliance on foreign-controlled stablecoins. In a bid to increase its financial sovereignty, Russia’s Finance Ministry has proposed the development of a national stabl…

Russian Officials Explore Stablecoin Alternatives After Tether Wallet Blockade

Russia is considering the development of its own stablecoins following a recent action by Tether to block wallets linked to Russian exchanges. Notably, the issuer of the widely used USDT stablecoin recently blocked wallets tied to Russian exchanges. This action occurred against the backdrop of ongoing Western sanctions. As a result, Russian officials are considering alternatives for conducting international transactions. Russia to Create Its Own…

Russia Should Develop Its Own Stablecoin, Says Finance Ministry Official

Russia Considers Issuing Its Own Stablecoin Amid Sanction Pressures A top Russian finance official has suggested launching a national stablecoin to shield the country from future sanctions and financial bans. The appeal comes after U.S. officials froze wallets belonging to Russian crypto exchange Ga...