Is Russia about to launch a 'Combat Nation version of USDT'? The underlying issues are quite complex

Recently, the Russian side is indeed anxious. This is because the United States suddenly froze approximately $30 million worth of USDT (about 2.5 billion rubles) in the Garantex exchange, and Russia is now considering launching its own stablecoin for 'self-protection'.

According to TASS, the Ministry of Finance is preparing a domestically produced stablecoin to compete with USDT. It is possible that it will be pegged to the ruble, and there are even rumors that it might be linked to the renminbi, with initial plans to conduct a small-scale trial in the newly established 'cryptocurrency special zone' in Russia.

The reason behind this is quite straightforward: Garantex is one of Russia's largest digital currency trading platforms, but it has recently been included in the sanctions list by the US and Europe, on the grounds of suspected money laundering and facilitating the transfer of funds for hackers. The Tether company subsequently cooperated by freezing the relevant wallets.

Internal sources say that the Ministry of Finance's attitude is very firm, and the Deputy Minister even slammed the table during a meeting, stating: 'We can't keep getting choked by the Americans; we need our own digital solution.'

However, this matter is not entirely one-sided within Russia. The central bank has always maintained a relatively conservative stance on cryptocurrencies and is not keen on fully opening up, leading to disagreements with the Ministry of Finance.

The outside world is also watching closely. Some believe that the Russian version of the stablecoin is just 'a ruble in a different guise,' while others are concerned that such stablecoins could be used to bypass financial sanctions in the future.

But regardless of how one views it, this issue will have a significant impact on the entire digital currency industry. More and more countries want to 'step in and take the lead' in the stablecoin sector.

If Russia really issues a coin, do you think it will create a new pool of funds? Will there be buyers?

Additionally, Tether's direct freezing of assets this time serves as a reminder for everyone to consider diversifying their risks.