Russia's Finance Ministry: Investors to Bear Losses From Frozen Foreign Stablecoins
- —Russia has about 20 million crypto investors holding $44 billion
- —Daily crypto turnover in Russia is estimated at 50 billion rubles
- —Losses from frozen USDT and USDC will fall on investors
- —Trades outside the regulated perimeter must be reported to the tax service
Why it matters: Moscow is signaling it will not shield holders of foreign stablecoins, raising the risk profile of USDT and USDC in Russia.
Source: Bloomingbit
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