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Russia Reconsiders Stablecoin Ban Amid US and EU Pressure
According to local reports, Russia’s central bank is re-examining its long-standing opposition to stablecoins. First Deputy Chairman Vladimir Chistyukhin said the Bank of Russia will conduct a study this year on the feasibility of creating a Russian stablecoin.
Previously, Russia had consistently opposed plans for a centralized stablecoin. However, Chistyukhin said foreign practice now warrants a renewed assessment of risks and prospects.
Moscow Reopens the Stablecoin Debate
The shift signals a strategic rethink rather than an immediate policy change. Still, the timing is notable.
Over the past year, the United States passed the GENIUS Act, establishing a federal framework for payment stablecoins.
The law formalized 1:1 dollar backing and reserve transparency requirements.
As a result, US-backed stablecoins have gained institutional legitimacy and expanded their footprint in cross-border payments and digital asset settlement.
At the same time, the European Union has accelerated work on a digital euro and MiCA-compliant euro stablecoins led by major banks.
European policymakers have framed these efforts as necessary to preserve monetary sovereignty and reduce dependence on foreign digital currencies.
Against that backdrop, Russia risks falling behind in the race to shape digital monetary infrastructure. Stablecoins now function as core liquidity rails in global crypto markets and, increasingly, in trade settlement.
If dollar and euro-backed tokens dominate cross-border flows, Russian entities could face deeper reliance on foreign-regulated instruments.
Sanctions Pressure and the Sovereignty Question
Moreover, sanctions and restrictions on Russia’s access to traditional payment networks add urgency.
A domestically controlled stablecoin could, in theory, provide an alternative settlement mechanism for international partners willing to transact outside Western systems.
Even exploring the concept signals that Moscow recognizes the geopolitical dimension of stablecoin infrastructure.
However, risks remain substantial. A Russian stablecoin would require credible reserves, legal clarity, and trust from counterparties. Without transparency and liquidity, adoption would be limited.
For now, the Bank of Russia is studying the issue, not endorsing it.
Aave Proposes 100% DAO Revenue Model, Yet Price Remains Under Pressure
Aave Labs has unveiled a fresh governance initiative that could redefine the future direction of one of the crypto sector’s leading lending protocols.
While on paper the developments appear to be a sound initiative, the AAVE price has failed to reflect due to investors’ behavior.
AAVE Launches New Governance Model
Dubbed “Aave Will Win,” the proposal calls on the Aave DAO to endorse a comprehensive roadmap centered on the forthcoming V4 upgrade. If approved, V4 would serve as the core infrastructure for the protocol’s next phase, establishing a framework where 100% of revenues from products developed by Aave Labs are allocated directly to the DAO.
AAVE price remains under pressure despite the rollout of its new governance model. The token is currently in oversold territory based on the Money Flow Index. Recent readings suggest macro-driven selling pressure may have peaked after several sessions of sustained outflows.
Historically, the AAVE price has rebounded after entering oversold conditions. Oversold signals often reflect selling saturation, where buyers gradually step in. However, broader crypto market weakness and cautious investor sentiment make this setup less straightforward than previous recovery cycles.
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AAVE MFI. Source: TradingView AAVE Holders Are Still Selling
Exchange net position change data shows that selling pressure continues to dominate. Net inflows to exchanges indicate that holders are moving AAVE to trading platforms. This behavior typically signals an intention to sell rather than accumulate.
Strengthening outflows and persistent exchange inflows may delay any potential rebound. Even positive protocol developments have failed to spark immediate upside momentum. Market participants appear focused on liquidity conditions and risk appetite rather than governance upgrades.
AAVE Exchange Net Position Change. Source: Glassnode AAVE Price Is Holding Above Support
AAVE price trades at $111 at publication, holding above the 23.6% Fibonacci level at $109. This level is widely viewed as a bear market support floor. Maintaining this support is critical to prevent deeper structural weakness.
Mixed technical signals suggest AAVE may consolidate above $109 in the near term. Price could remain range-bound under the $119 resistance while momentum stabilizes. However, a confirmed break below $109 may expose AAVE to $100 or lower.
AAVE Price Analysis. Source: TradingView
If selling pressure eases and investors regain confidence, AAVE could rebound from $109. A move above $119 would signal improving sentiment. Breaching $128 may open the path toward $136, invalidating the prevailing bearish outlook.