Russia's Cryptocurrency Criminal Liability Bill Postponed for Deliberation Until After Election, Maximum Sentence of 7 Years Imprisonment

According to Bits.media, Anatoly Aksakov, Chairman of the Russian State Duma Committee on the Financial Market, stated that the second and third readings of the criminal liability bill targeting illegal cryptocurrency transactions will be postponed for deliberation by the new State Duma. This is because the Duma's spring session will end on July 27, August to September is the election recess, and Duma election voting will conclude on September 20, therefore deliberation will resume at the earliest during the autumn session. The bill completed its first reading in early July, stipulating a maximum prison term of 7 years for organizing illegal cryptocurrency circulation, with relevant penalty clauses scheduled to take effect officially from July 1, 2027. Under the current regulatory framework, Russian citizens can only buy and sell cryptocurrencies through institutions holding licenses from the Central Bank of Russia, while P2P and over-the-counter transactions may face criminal prosecution. Aksakov denied concerns that the bill would affect crypto exchangers and P2P users, calling such concerns "unfounded". Meanwhile, another Russian government law strengthening national control over cryptocurrencies, the "Law on Digital Currency and Digital Rights," has also been delayed, with the original schedules for effect in July and September both missed.