PANews reported on June 4th, citing Bits.media, that Russian Deputy Finance Minister Ivan Chebeskov stated that if foreign stablecoins are allowed to trade in Russia, issuers may directly freeze them in users' wallets, particularly USDT and USDC. He pointed out that once these wallets begin trading with platforms licensed by the country's central bank, the risk to holders will increase dramatically. There have been cases of frozen USD stablecoins held by Russian legal entities, while Bitcoin and Ethereum have not yet been frozen due to a lack of technical means.

The Russian Ministry of Finance believes it is necessary to enact specific legislation for stablecoins, prioritizing tokens pegged to the ruble and currencies of friendly countries, while the central bank retains the right to adjust the list at its own discretion. The issue of foreign stablecoins entering the "regulated Russian framework" has sparked market controversy, with the Ministry of Finance and the central bank initially advocating for excluding stablecoins from legitimate investment instruments.