Russian Criminal Liability Bill for Crypto Transactions Postponed Until After Duma Elections

Odaily Planet Daily News: Anatoly Aksakov, Chairman of the Financial Markets 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, and lawmakers will be on recess in August and September, with the autumn session expected to move forward. The bill passed its first reading in early July, stipulating fines and a maximum prison sentence of seven years, with penalties set to take effect on July 1, 2027. Aksakov said that Russians can only buy and sell cryptocurrencies through institutions registered with the central bank, and direct P2P transactions will face criminal liability, but denied that the law targets ordinary exchangers and P2P users. Meanwhile, the Russian government's "Digital Currency and Digital Rights Bill" has also been postponed. Originally scheduled to take effect on July 1, it was delayed to September 1. The Duma election voting will conclude on September 20.