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Osman Kabaloev, deputy chief of Russia of the Ministry of Finance, would have said that the country should develop its own stablecoin.
Following a recent freeze on portfolios linked to the Russian exchange sanctioned Guailed by the American authorities and the stablecoin issuer, Russia should explore the creation of its own stablecoins.
RUP:
The Russian Ministry of Finance calls for the creation of national cryptography pic.twitter.com/zmvzwzxtph
– Crypto Rover (@rovercrc) April 16, 2025
Kabaloev said the Kremlin should explore the possibility of developing a stablecoin as such that USDT de Tether to avoid being at the mercy of Tether and the American authorities, according to the April 16 reports of the TASS public news agency.
“We do not impose restrictions on the use of stablecoins in the experimental legal regime. Recent developments have shown that this instrument can present risks for us,” said TASS, deputy chief of the Ministry of Finance in Russia.
He added that “this leads us to consider the need to develop internal instruments similar to the USDT, potentially attached to other currencies.”
On March 6, 2025, the United States Ministry of Justice collaborated with the authorities in Germany and Finland to freeze the domains associated with the exchange of Russian crypto, Guarantx.
Authorities said the scholarship has treated more than $ 96 billion in criminal product since its launch in 2019. The USDT Tether issuer also froze $ 27 million in its stablecoin on March 6. Following this 8 -digit frost, Garantinex was forced to stop all operations, including withdrawals.
Guarantex was struck for the first time of sanctions in April 2022 when control of the control of foreign assets of the US Treasury targeted the scholarship for alleged violations of money laundering.
It would be allegedly, Guarantx has resurfaced under a new name after apparently bleached millions of stables supported by the ruble and having transferred them to a newly established exchange, according to the Swiss analysis blockchain firm, Global Ledger.
Meanwhile, Evgeny Masharov, a member of the Russian Civic Chamber, proposed on March 20 to create a Cryptography Fund for the Russian government which would include assets confiscated from criminal procedures.
Discover: 20+ Next Crypto to explode in 2025
Something huge happened in 2024, and very few people talk about it.
For the first time, Stablecoins exceeded the visa in volume. pic.twitter.com/txeo5gs681
– Bitwise (@bitwiseinvest) April 16, 2025
A review of the cryptography market for the first quarter of 2025 by the investment company of Crypto Bitwise from yesterday (April 16) highlighted an important step which mainly stole under the radar. In 2024
The entire market capitalization of the stable reserve has increased since mid-2010, exceeding $ 200 billion at the beginning of 2025. A joint report of artemis chain analysis platforms and dune showed that active stablecoin portfolios increased by approximately 53% in one year.
Currently, combined market capitalization amounts to $ 236.4 billion, by Coingecko. It should be noted that the main cause of this growth will be the planned passage of the engineering law in the United States.
Guidance and establishment of national innovation of stable legislation aims to create a regulatory framework for stablecoins, defining when the issuers fall under the surveillance of the State or the Federal.
With the adoption of the Act on Engineering, the Standard Heritage Management Company Chartered provided that in 2028, the total market value of the stablecoins could reach 2 dollars.
(@Kshitizkapoor_)
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Due to the American sanctions and freezing of more than $ 27 million in illegal funds from Russian Exchange, Guarantx, the Soviet nation seeks to create their own stablecoins
Guarantx would have started to negotiate under a new name, by major world book
Stablecoins are hot at the moment, with a combined market capitalization of $ 263 billion and a standard approved forecast to become an industry of 2 dollars by 2028
In 2024, stablecoin transactions would have exceeded visa payments
The Post Stablecoins planned to reach $ 2 billions by 2028: Russia The last nation exploring its own stablecoin appeared first on 99Bitcoins.