Russia Delays Bill on Criminal Liability for Illegal Crypto Trading Until New Duma Election

Russian State Duma Financial Market Committee Chairman Anatoly Aksakov said a bill on criminal liability for illegal cryptocurrency trading will be reviewed after the election of the new Duma. According to Odaily, the spring session ended on July 27, and lawmakers will be on recess from August to September, with the bill expected to advance in the autumn session. The bill passed its first reading in early July and sets fines and prison terms of up to seven years, with the penalty provisions scheduled to take effect on July 1, 2027. Aksakov said Russians can only buy and sell cryptocurrency through institutions listed in the central bank register, while direct peer-to-peer transactions would carry criminal liability. He denied that the law would target ordinary exchangers or P2P users. Russia's government bill on digital currency and digital rights was also delayed. It was originally set to take effect on July 1 and was later postponed to September 1. Voting in the Duma election will end on September 20.