#稳定币市场发展 The Russian Central Bank framework is worth paying attention to—during this window before 2026, the authorities explicitly classified stablecoins as "monetary assets" for the first time, which is a very important positioning. They allow retail and qualified investors to purchase, but prohibit their use for domestic payments, effectively accepting them at the technical level while maintaining the independence of the payment system.

From an on-chain data perspective, such policy signals will directly influence regional capital flows. As an important market under sanctions, once purchase channels are opened, the demand for stablecoin inflows and outflows will change significantly—key focus on the inflow and outflow of USDT and USDC on relevant exchanges, as well as the activity level of the Ruble trading pairs.

The central bank also emphasizes risks and volatility, indicating a still conservative stance. This kind of "softening but controllable" policy is often the beginning of long-term pilot programs, and the actual release of capital scale will depend on specific implementation details. It is recommended to continue monitoring official announcements, as each supplementary regulation before 2027 could alter capital expectations.