The Russian Constitutional Court is currently examining a crucial case that will determine whether citizens possess property rights over stablecoins like USDT. Regulatory experts have observed that fiat-pegged stablecoins, such as USDT, are not classified as ‘digital financial assets’ (DFA) under Russian law and are consequently exempt from the country’s digital currency circulation rules. 1,000 USDT lent by Moscow resident Dmitry Timchenko to a borrower in 2023 was refused return, despite appeals through various courts, with rulings dismissing his claims due to stablecoin non-classification as protected DFAs. In response, Mr. Timchenko has appealed the case to the Constitutional Court, arguing that no other asset class in Russia faces such restrictive conditions. The final ruling, expected soon and holding significant implications, is poised to shape judicial recognition of stablecoins in Russia.