Russian Crypto Criminal Liability Bill Postponed Until After Duma Elections

Odaily reports that Anatoly Aksakov, Chairman of the Financial Market Committee of the Russian State Duma, stated that the bill on criminal liability for illegal cryptocurrency transactions will be postponed until after the election of the new Duma. The spring session ends on July 27, with lawmakers on vacation from August to September, and the bill is expected to advance during the fall session. The bill passed its first reading in early July, stipulating fines and up to seven years in prison, with the penalty provisions set to take effect on July 1, 2027. Aksakov stated that Russians can only buy and sell cryptocurrencies through institutions registered with the Central Bank, and direct P2P transactions will face criminal liability. However, he denied that the law would target ordinary exchangers and P2P users. Meanwhile, the Russian government's "Digital Currency and Digital Rights Bill" has also been delayed. Originally scheduled to take effect on July 1, it has now been postponed to September 1. Voting for the Duma elections will conclude on September 20.