Russian Court Hears Landmark Case, Rules on Whether Individual Has Property Rights to USDT and Other Stablecoins

BlockBeats News, November 18th. According to DLNews, the Russian Constitutional Court is currently reviewing a key case to determine whether citizens have property rights to USDT and other stablecoins. Several regulatory experts have stated that fiat-pegged stablecoins like USDT do not fall under the category of "Digital Financial Assets" (DFA) in Russian law and are not subject to the country's digital currency circulation rules.

In the case, Moscow resident Dmitry Timchenko lent out 1000 USDT in 2023 but was refused repayment by the other party. His appeals to the district court, the appellate court, and the supreme court were all rejected, with the courts determining that stablecoins do not fall under the protected category of DFAs. Dmitry Timchenko then appealed to the Constitutional Court, stating that "Russia does not have any other asset class facing such restrictions." The final ruling in this case is expected to be announced in a few weeks in a non-public format and is seen as a significant precedent for the legal recognition of stablecoins in Russia.