Russia’s Central Bank Imposes New Restrictions on Tether, Threatening Local Access

Russia’s Central Bank is set to launch a regulated cryptocurrency testing environment on May 26th, which could significantly impact the popularity of Tether (USDT) in the country. The bank emphasizes that approval will only be given to altcoins originating from ‘friendly countries,’ and those not susceptible to unilateral freezing by their issuer. Experts point out that Tether’s history of wallet freezes and redemptions denial raise concerns about whether it aligns with these criteria, potentially leading to a rapid decline in local access to USDT. While not a formal ban, the new regulations signal a shift away from using Tether for trading.