Russia's Constitutional Court is about to rule on whether its citizens have property rights to stablecoins such as Tether's USDT.
According to reports, experts have told the court that stablecoins pegged to fiat currencies are not digital financial assets (DFAs), and that Russia's current regulations on "circulation of digital currencies" do not apply to USDTs. Digital financial assets are a class of tokenized assets with special regulatory status in Russia.
Alexey Guznov, deputy governor of the Russian central bank, told the court: "From a conceptual perspective, what we are discussing here [stablecoins] is essentially a currency alternative."
The case is expected to establish a long-term legal precedent for future civil cases related to stablecoin ownership, and the final judgment will be announced before the end of this year.
Meanwhile, Russian lawmakers are trying to crack down on unregulated cryptocurrency-related businesses.
The Russian Constitutional Court will issue a landmark ruling in the USDT ownership case
2025-11-18 04:16:55
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