Russia Delays Criminal Liability Bill for Cryptocurrency Trading Until After Duma Elections

The chairman of the Financial Market Committee of the State Duma of Russia, Anatoly Aksakov, stated that the bill regarding criminal liability for illegal cryptocurrency trading will be postponed until after the new Duma elections. The spring session will end on July 27, and members will be on vacation from August to September, with the autumn session expected to proceed thereafter. The bill was passed in the first reading in early July, stipulating fines and a maximum prison sentence of seven years, with the penalty provisions set to take effect on July 1, 2027. Aksakov noted that Russians can only buy and sell cryptocurrencies through institutions registered in the central bank's registry, and direct P2P transactions will face criminal liability, although he denied that the bill would target ordinary exchange operators and P2P users. Additionally, the government's "Digital Currency and Digital Rights Bill" has also been postponed, originally scheduled to take effect on July 1, now delayed to September 1. Voting for the Duma elections will conclude on September 20.

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