The timeline for Russia’s new law to regulate cryptocurrency transactions has been pushed back, as authorities confirmed they won’t meet the intended July 1 implementation date. Officials from the Russian Ministry of Finance stated that legislative preparations are nearly complete, but more time is necessary. The forthcoming bill aims to provide a legal basis for crypto investments, while introducing significant restrictions on crypto advertising.
The path to passage falls behind schedule
Aleksey Yakovlev, Director of Financial Policy at Russia’s Ministry of Finance, said that the draft law on digital currencies and rights is ready for evaluation but will experience a modest delay. The bill still awaits approval from the relevant parliamentary committee before its second reading in the State Duma, Russia’s lower house of parliament.
Yakovlev noted that the regulatory framework is largely complete and their team anticipates swift approval from the Duma’s Committee on Financial Markets, paving the way for the next legislative reading.
Authorities acknowledge that passing the bill before July 1 now appears unrealistic, but expect progress in the weeks following. The draft is in its final stages and no major revisions are anticipated prior to its reappearance on the Duma’s agenda.
The law needs to clear the Duma’s second and third readings, obtain approval from the Federation Council, and finally secure President Vladimir Putin’s signature. The Duma first debated the bill in April, with earlier statements projecting that the law would take effect by July 1 at the latest.
Comprehensive regulation for investment and trading
The proposed legislation draws from the policy approach outlined by Russia’s Central Bank in December 2025. The new framework will cover a broad array of digital asset activities including investment, exchange, and trading. As Russia’s primary financial authority, the Central Bank plans to introduce detailed secondary regulations for the sector later this summer.
Unlike previous drafts, the current version expands access beyond a narrow group of qualified investors. Ordinary Russian citizens will be able to legally purchase crypto assets through licensed intermediaries, though annual investment will be capped at under $4,000.
Non-professional investors will be permitted to access only leading cryptocurrencies such as Bitcoin, Ethereum, and major stablecoins including USDT and USDC. Domestic transactions made without recognized exchanges, brokers, custodians, or equivalent Central Bank-authorized institutions will be prohibited—including transfers to individual self-custody wallets.
| Topic | Planned Regulation |
|---|---|
| Implementation timeline | July 1 target missed |
| Individual investment cap | Below $4,000 per year |
| Accessible assets | Major assets like Bitcoin, Ethereum, USDT, USDC |
| Unauthorized transactions | Domestic transfers without approved intermediaries will be banned |
Crypto advertising to face tighter controls
In tandem with the legislative process, Russian authorities are also moving to clamp down on crypto advertising. If passed, the bill would prohibit the use of names such as Bitcoin in commercials, videos, or similar promotional content. Lawmakers intend to add these measures ahead of the bill’s second reading.
Ekaterina Lozgacheva, Head of Strategic Financial Market Development at the Central Bank of Russia, stressed that while financial services may be promoted, the direct advertising of cryptocurrencies should be barred due to their high risk.
Anatoliy Aksakov, head of the Duma’s Financial Markets Committee, confirmed the impending restrictions at this week’s St. Petersburg International Legal Forum. According to Aksakov, companies will be allowed to state they operate within crypto markets, but not to promote specific services they offer in the sector.
