Russia's Cryptocurrency Law Delayed: Ministry of Finance Confirms Timeline Shift
The Russian bill No. 1194918-8 "On Digital Currency and Digital Rights," which barely passed its first reading on April 21, has faced another delay. Contrary to market expectations and officials' statements, the document will not be adopted by the planned deadline of July 1. This was officially announced by the Ministry of Finance.
Ministry of Finance: "Everything is ready, but we won't make it in time"
Alexei Yakovlev, Director of the Financial Policy Department at the Ministry of Finance, stated on the sidelines of the PMLEF-2026 that the document as a whole has been formed and is ready for further advancement. However, according to him, "we probably won't manage to adopt it by July 1, but around that time." This means the second reading in the State Duma will take place no earlier than the second half of summer, and the final adoption of the law may be postponed to autumn.
Let me remind you that this bill lays the fundamental legal framework for the circulation of cryptocurrencies within the country. According to its text, individuals and legal entities will receive the right to officially acquire digital coins, but exclusively through certified operators. The list of authorized intermediaries will include specialized exchange services from the Central Bank's registry, licensed brokers, and trust managers. At the same time, the use of tokens for paying for goods or services within the state will remain strictly prohibited.
The market anticipated the delay
Interestingly, insider information about the postponement of deadlines circulated in the blockchain community long before the official confirmation from the Ministry of Finance. For example, Sergey Mendeleev, founder of the Exved platform, noted in his personal blog on June 22 that the discussion of the crypto initiative had been quietly removed from the work plan of the parliamentary committee. He also expressed the opinion that it would be more logical to return the document to the first reading stage and entrust its revision to the new composition of deputies during the autumn session. Otherwise, the expert warned, the industry would face the same old problems that previously arose during the legalization of miners' activities.
Mendeleev, by the way, actively participated in the discussion of future cryptocurrency regulation rules in Russia and criticized the bill's authors for ignoring proposals from experienced representatives of the crypto industry.
My analysis: The delay in adopting the law is a worrying signal for the market. Another shift in the deadline indicates deep disagreements between departments and a lack of consensus on key issues. Without clear regulation, the Russian crypto market will continue to exist in a gray zone, creating risks for honest participants and stimulating shadow schemes. Investors should prepare for the fact that the full legalization of cryptocurrencies in Russia could drag on until at least the end of 2026.