Russia's legislative push to regulate cryptocurrencies has hit a scheduling snag. Alexei Yakovlev, Director of Financial Policy at the Ministry of Finance, confirmed that the draft law on digital currencies and rights is ready for evaluation but will experience a modest delay. The bill still requires approval from the relevant parliamentary committee before its second reading in the State Duma. Yakovlev noted that the regulatory framework is largely complete and expects swift approval from the Duma's Committee on Financial Markets.
July 1 target missed, second reading postponed
Authorities now admit that passing the bill before July 1 is unrealistic but anticipate progress in the weeks following. The draft is in its final stages with no major revisions expected before it reappears on the Duma's agenda. The law must clear second and third readings, win approval from the Federation Council, and secure President Vladimir Putin's signature. The Duma first debated the bill in April, with earlier statements projecting enactment by July 1.
Retail investor entry: annual cap below $4,000
The proposed legislation draws from the policy approach outlined by Russia's Central Bank in December 2025. The framework covers digital asset investment, exchange, and trading. Unlike previous drafts, the current version expands access beyond qualified investors. Ordinary Russian citizens will be able to legally purchase crypto assets through licensed intermediaries, though annual investment will be capped at under $4,000.
Tradable assets limited to BTC, ETH, and major stablecoins
Non-professional investors will be permitted to access only leading cryptocurrencies such as Bitcoin, Ethereum, and major stablecoins including USDT and USDC. Domestic transactions made without recognized exchanges, brokers, custodians, or equivalent Central Bank-authorized institutions will be prohibited — including transfers to individual self-custody wallets.
All domestic transfers must pass through licensed entities
Unauthorized onshore transfers face a blanket ban. Every digital asset movement must go through a compliant intermediary; direct peer-to-peer sends to self-custody wallets are no longer allowed. The Central Bank plans to introduce detailed secondary regulations later this summer.
Crypto advertising to face tighter controls
In parallel with the legislative process, Russian authorities are moving to clamp down on crypto advertising. If passed, the bill would prohibit using names such as Bitcoin in commercials, videos, or similar promotional content. Anatoliy Aksakov, head of the Duma's Financial Markets Committee, confirmed the impending restrictions at this week's St. Petersburg International Legal Forum. Companies will be allowed to state they operate within crypto markets, but not to promote specific services. Ekaterina Lozgacheva, Head of Strategic Financial Market Development at the Central Bank of Russia, stressed that while financial services may be promoted, direct advertising of cryptocurrencies should be barred due to high risk.