Russian Ministry of Finance Scraps Plan to Exclude USDT from Crypto Framework

The Russian Ministry of Finance has clarified its stance on the inclusion of USDT in the country's crypto regulatory framework.

According to a statement, the ministry considered excluding USDT due to concerns over its risks and potential impact on the financial system. However, after consulting with industry participants, including financial intermediaries and crypto representatives, it was decided not to pursue this option.

The decision was based on feedback from almost all stakeholders who indicated that they were willing to use technical means to mitigate the risks associated with USDT. The ministry noted that since USDT is widely used by citizens and businesses in Russia, related bans are currently not being considered.