From Cointelegraph
April 17, 2025 2:15 am:

A Russian finance ministry official suggests developing a stablecoin after US authorities froze Garantex wallets linked to Tether. The move aims to avoid future restrictions. US sanctions hit Garantex for alleged money laundering, forcing Tether to freeze $27 million. The stablecoin market cap surpasses $200 billion in 2025, with a 50% increase in active stablecoin wallets. Stablecoins attract massive adoption and surpass Visa and Mastercard combined volumes. Russia considers creating a crypto fund from seized assets as part of its crypto legislation efforts. A Swiss firm claims Garantex resurfaced under a new name after laundering ruble-backed stablecoins. Evgeny Masharov proposes a Russian government crypto fund using confiscated assets. New legislation recognizes crypto as property for criminal procedures.

Read more at Cointelegraph: Russia finance ministry official floats country making own stablecoins: Report