Russia's Criminal Liability Bill for Crypto Transactions Postponed Until After Duma Elections

Odaily Planet Daily News: 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 new Duma elections. The spring session ends on July 27, with lawmakers on recess from August to September, and the bill is expected to advance in the autumn session. The bill passed its first reading in early July, stipulating fines and up to seven years of imprisonment, with penalties set to take effect on July 1, 2027. Aksakov said that Russians can only buy and sell cryptocurrencies through institutions listed in the Central Bank's register, and direct peer-to-peer (P2P) transactions will face criminal liability. However, he denied that the law targets ordinary exchangers and P2P users. At the same time, the Russian government's "Digital Currency and Digital Rights Bill" has also been postponed. It was originally scheduled to take effect on July 1 but was later postponed to September 1. The Duma election voting is expected to conclude on September 20.