Russia delays crypto law enforcement to September 1

Russian lawmakers have delayed the country’s cryptocurrency law by two months, pushing enforcement from July 1 to September 1, 2026, State Duma Financial Markets Committee chair Anatoly Aksakov said Friday.

Officials say the delay will allow regulators to finalize the legal framework governing cryptocurrency transactions, with supplementary rules expected by November and the first regulated crypto operations projected for early 2027.

The legislation represents one of Russia’s most significant policy shifts on digital assets in recent years, as Moscow moves to establish a legal framework for cryptocurrency ownership and trading while maintaining strict oversight through the country’s financial regulator.

Russia crypto law delayed by government approval process

The rollout of the Russia crypto law has been pushed back after lawmakers introduced further amendments and extended consultations with government agencies.

According to Russian business daily Kommersant, the draft legislation officially titled “On Digital Currency and Digital Rights” cleared its first reading in the State Duma in April but missed its original July 1 implementation deadline.

Anatoly Aksakov, Chairman of the State Duma Committee on Financial Markets, attributed the postponement to the government’s review process.

“Due to protracted approvals with government agencies.” — Anatoly Aksakov, Chairman, State Duma Committee on Financial Markets

Aksakov said the second and third readings of Bill No. 1194918-8 are tentatively scheduled for July 21. After parliamentary approval, the legislation must still receive backing from the Federation Council and be signed into law by President Vladimir Putin before taking effect.

The Russia crypto law is built around a regulatory framework unveiled by the Central Bank of Russia (CBR) in December 2025, which proposes recognizing cryptocurrencies as “monetary assets” while placing their circulation under formal state supervision.

Under the proposal, cryptocurrency transactions will only be conducted through licensed intermediaries including exchanges, brokers, trustees and depositories that are registered with the Central Bank.

Russia crypto law introduces regulated access for investors

Once implemented, the Russia crypto law will legalize cryptocurrency transactions for Russian citizens and businesses while imposing limits designed to manage investment risks.

The framework allows even non-qualified investors to purchase digital assets but caps annual purchases at 300,000 rubles (less than US$4,000).

Lawmakers are also reconsidering provisions relating to self-custody. While the original draft required cryptocurrencies to be stored through state-approved custodians, discussions are now underway to allow investors to withdraw up to 100,000 rubles (around US$1,300) worth of digital assets into non-custodial wallets.

Mikhail Uspensky, a member of the State Duma’s Expert Council on Cryptocurrency Legislation, disclosed the ongoing discussions to Kommersant, reflecting regulators’ efforts to balance investor flexibility with oversight.

The Russia crypto law marks a notable shift from Moscow’s previously cautious approach toward decentralized digital assets, particularly as economic sanctions have encouraged authorities to explore alternative financial infrastructure.

Russia crypto law paves the way for regulated crypto market

Officials expect the Russia crypto law to trigger a broader regulatory rollout before licensed cryptocurrency services become widely available.

According to Interfax, First Deputy Chairman of the Central Bank of Russia Vladimir Chistyukhin confirmed that supporting regulations are expected by October before being submitted to the Ministry of Justice.

“I think the regulations will be ready by October, and we’ll send them to the Ministry of Justice… If everything goes according to plan, then by early November, all of this could already be adopted and published.” — Vladimir Chistyukhin, First Deputy Chairman, Central Bank of Russia

Chistyukhin said the country’s first regulated cryptocurrency transactions could begin in early 2027, depending on how quickly financial institutions launch products and services under the new framework.

Major market participants are already preparing for the transition.

The Moscow Exchange (MOEX) announced that it intends to launch cryptocurrency-related operations before the end of 2026. Speaking at the Central Bank’s Financial Congress, Igor Marich, a representative of MOEX, confirmed the exchange’s plans to enter the regulated digital asset market.

Several major Russian financial institutions have already introduced cryptocurrency derivatives after receiving authorization from the Central Bank in May 2025, providing an early indication of market readiness once the Russia crypto law becomes fully operational.

Russia crypto law reflects broader regulatory shift

The Russia crypto law signals a significant evolution in the country’s digital asset strategy.

Although Russia has gradually softened its stance toward cryptocurrencies over the past year, analysts note that it still trails several neighboring countries, including Belarus and Kazakhstan, in establishing comprehensive cryptocurrency regulations.

Russian central bank officials are also working with their Belarusian counterparts to maintain access to Belarusian digital asset infrastructure as regional cooperation expands.

While the delayed implementation may temporarily slow market development, officials argue that completing the legal and regulatory framework before launch is essential for ensuring compliance, investor protection and market stability.

If the current timetable holds, the Russia crypto law will become the legal foundation for Russia’s regulated cryptocurrency economy beginning on September 1, with the country’s first licensed crypto services expected to follow in early 2027.

Source; Cryptopolitan news