Russia’s State Duma will not move ahead with the second and third readings of a bill introducing criminal liability for illegal cryptocurrency trading until the next convocation, according to Bits.media, which cited Anatoly Aksakov, chairman of the Duma Committee on Financial Markets. The delay is tied to the legislative calendar: the spring session ends on July 27, followed by an election recess in August and September, with voting in the Duma election ending on Sept. 20. Review of the bill may resume in the autumn session at the earliest. The proposal passed its first reading in early July. It would allow penalties of up to seven years in prison for organizing illegal cryptocurrency circulation, with the relevant punishment provisions planned to take effect on July 1, 2027. Under the current regulatory framework, Russian citizens may buy and sell cryptocurrency only through institutions licensed by the Bank of Russia, while peer-to-peer and over-the-counter transactions could face criminal prosecution. Aksakov rejected concerns that the bill would affect crypto exchangers and P2P users, calling those fears groundless. Separately, another measure, the Law on Digital Currency and Digital Rights, has also been delayed after missing planned effective dates in July and September.
Russia’s State Duma has postponed the second and third readings of a bill that would introduce criminal liability for illegal cryptocurrency trading until the next convocation, according to Bits.media, citing Anatoly Aksakov, chairman of the Duma Committee on Financial Markets.
Aksakov said the delay stems from the parliamentary schedule. The Duma’s spring session ends on July 27, while August and September are reserved for an election recess. Voting in the Duma election is set to conclude on Sept. 20, which means discussion of the bill can resume no earlier than the autumn session.
The bill cleared its first reading in early July. Under the draft, organizing illegal cryptocurrency circulation could carry a prison sentence of up to seven years. The related penalty provisions are planned to take effect on July 1, 2027.
Under Russia’s current regulatory framework, citizens may buy and sell cryptocurrency only through institutions licensed by the Bank of Russia. Peer-to-peer and over-the-counter transactions could face criminal prosecution. Aksakov dismissed concerns that the bill would extend to crypto exchangers and P2P users, saying such concerns were “groundless.”
At the same time, another Russian government measure aimed at tightening state control over crypto, the Law on Digital Currency and Digital Rights, has also been delayed. Its previously scheduled effective dates in July and September have both been missed.
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