Russia expects delay in crypto market regulation bill
Final adoption requires further parliamentary readings and presidential approval, with rollout expected later in the year.
Russia’s Ministry of Finance expects a short delay in the adoption of a draft law that would create a legal framework for the country’s cryptocurrency market.
Alexey Yakovlev, director of the ministry’s financial policy department, told Interfax that the bill is largely ready, but is unlikely to be adopted by the initial 1 July 2026 target. He said the draft is expected to move to committee review before its second reading in the State Duma.
The bill, titled ‘On Digital Currency and Digital Rights’, was approved by the State Duma in its first reading on 21 April. It would allow citizens and companies to legally buy cryptocurrency through licensed intermediaries, including exchange operators listed by the Bank of Russia, brokers and trust managers.
Domestic payments in cryptocurrency would remain banned, keeping the rouble as the country’s only legal means of payment for goods and services.
The Bank of Russia had previously expected the law to enter into force on 1 July. The regulator planned to adopt implementing rules in the third quarter of 2026 so that the first legal cryptocurrency transactions could begin in the fourth quarter.
The delay comes as Russian regulators continue to shape a tightly controlled crypto framework. Separate reporting suggests authorities are also considering restrictions on cryptocurrency advertising, including limits on naming specific digital currencies in promotional materials.
The emerging model points to limited legal access to crypto through licensed intermediaries, while preserving strict state control over payments, advertising and market infrastructure.
Why does it matter?
Russia’s approach shows a shift from legal uncertainty towards controlled integration of digital assets. Rather than fully opening the crypto market or banning it outright, regulators are building a licensed system that allows investment and some regulated transactions while keeping domestic payments prohibited. The model reflects broader concerns over financial stability, consumer protection, capital flows and state oversight, especially in a sanctions-constrained economy.
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