PANews reported on June 17th that, according to Cryptopolitan, Russian Deputy Finance Minister Ivan Chebeskov stated that USDC will be added to the list of approved cryptocurrency exchanges in Russia, alongside USDT, Bitcoin, and Ethereum. Previously, the Central Bank of Russia had stated that it would not add any more tokens, but Chebeskov revealed that USDC will also be approved. Non-professional investors can only invest in eligible crypto assets, namely cryptocurrencies with an average market capitalization exceeding 5 trillion rubles (approximately $70 billion) over the past two years.

Chebeskov also stated that smaller fiat-denominated stablecoins from friendly jurisdictions may also be permitted, including ruble stablecoins and UAE dirham stablecoins. The Russian cryptocurrency regulatory bill must be passed by July 1st, granting non-professional investors legal access to crypto for the first time, but with an annual investment cap of 300,000 rubles (approximately $4,000).