Russia to Restrict Use of Tether and Other Foreign Stablecoins

Russia is taking steps to limit the use of foreign stablecoins, including popular options like Tether, in an effort to foster domestic alternatives following asset freezes. The restrictions aim to bolster Russia’s digital financial strategy amidst geopolitical tensions. The move comes after a $26.5 million asset freeze and reflects growing concerns about the impact of reliance on external entities.