Russia Eyes Its Own Stablecoin After $30M USDT Wallet Freeze

Krutika Adani

Russia’s $30M Wake-Up Call

Tether froze Russian wallets holding $30M in USDT on Garantex, following EU sanctions. Now, Russia is rethinking its crypto strategy.

Finance Ministry Pushes for Local Stablecoin

Deputy Minister Osman Kabaloev says it's time for Russia to build internal alternatives to USDT—possibly pegged to non-dollar currencies.

Stablecoins Were a Sanction Workaround

USDT helped Russians move money across borders despite restrictions. The freeze exposes the fragility of relying on Western-issued tokens.

Is Crypto Market Recovery on the Horizon as Stablecoin Market Dips for 18 Consecutive Months

Central Bank Softens on Crypto Use Abroad

While domestic crypto use remains restricted, Russia’s central bank has greenlit experimental international crypto payments.

Digital Ruble Incoming?

The freeze reignites calls for a sovereign stablecoin to protect Russia’s economy from foreign interference and maintain financial autonomy.

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