Russian Regulators Eye USDT as Market Opens to More Cryptocurrencies
The Russian government is introducing new regulations on cryptocurrency transactions, effective from July 1, 2027. The Bank of Russia has proposed including Bitcoin (BTC), Ethereum, and USDT in the list of cryptocurrencies accessible to ordinary investors.
However, Tether, the issuer of USDT, blocks funds at the request of U.S. authorities, raising concerns about the stability of the stablecoin on the Russian market. Experts warn that USDT holders may face risks if they store tokens in personal wallets or on exchanges.
According to Yuri Brisov, partner at Digital & Analogue Partners, Tether can freeze USDT on any wallet, including non-custodial ones. The issuer retains administrative capabilities regarding its smart contracts and can blacklist any address.