The Constitutional Court of Russia will make a landmark ruling on the ownership case of USDT.

The Constitutional Court of Russia is about to rule on whether its citizens have property rights over stablecoins such as USDT issued by Tether.

According to reports, experts have stated to the court that stablecoins pegged to fiat currency do not fall under the category of digital financial assets (DFA), and that the current regulations on "circulation of digital currencies" in Russia do not apply to USDT.

Digital financial assets are a type of tokenized asset that has a special regulatory status in Russia. Alexey Guznov, Deputy Governor of the Central Bank of Russia, stated in court: "From a conceptual standpoint, what we are discussing here (stablecoins) is essentially a currency substitute."

This case is expected to establish a long-lasting legal precedent for ownership-related cases of stablecoins in the future civil domain, with the final judgment to be announced by the end of this year. Meanwhile, Russian lawmakers are trying to crack down on unregulated cryptocurrency-related businesses.