Russia is actively progressing towards regulating stablecoins for official use in international trade settlements, with proposals already under review by the Bank of Russia.

Deputy Chairman Alexey Guznov highlighted ongoing discussions on technicalities surrounding stablecoin acquisition and transaction processes.

The Ministry of Finance has collaborated on this initiative, aiming for regulatory stability akin to the digital financial assets (DFA) law.

Stakeholders like Alexander Murychev and Natalia Milchakova support stablecoins for their stability and utility in reducing volatility risks during transactions.

Despite regulatory uncertainties, recent reports note the use of stablecoins by Russian metal producers for payments with Chinese counterparts, underscoring early adoption amidst geopolitical tensions and sanctions challenges.