Crypto news

Bill No. 1194918-8 "On Digital Currency and Digital Rights," which barely passed its first reading on April 21, is not on track to be approved by the scheduled deadline of July 1. This became known from statements by representatives of the Ministry of Finance on the sidelines of the PMYUF-2026 forum.

Alexei Yakovlev, Director of the Department of Financial Policy at the ministry, effectively confirmed the delay. According to him, the document is generally ready, but the parliamentary procedure is dragging on. It is expected that consideration in the relevant committee and the second reading will take place after July 1, although the regulator initially planned to launch the new rules at the beginning of the third quarter.

What the bill proposes

The document lays down the basic legal framework for the circulation of digital assets in Russia. After approval in the first reading, it became clear: individuals and legal entities will be able to officially purchase cryptocurrency, but exclusively through certified operators. The list of authorized intermediaries will include specialized exchange services from the Central Bank's registry, licensed brokers, and official trust managers.

At the same time, the use of tokens for payment for goods and services within the country will remain strictly prohibited — this is a fundamental position of the legislators.

The market expected a postponement

Interestingly, informational noise around the schedule change arose among blockchain entrepreneurs long before official comments. On June 22, Sergey Mendeleev, founder of the Exved platform, reported that discussion of the crypto initiative had been quietly removed from the work plan of the parliamentary committee, although a meeting was scheduled for the next day.

Mendeleev believes it would be more logical to return the document's text to the first reading stage, entrusting its revision to the new composition of deputies during the autumn session. Otherwise, in his opinion, the industry will face the same old problems that previously arose during the legalization of miners' activities.

Let me remind you that Sergey Mendeleev actively participated in discussions of future cryptocurrency regulation rules in Russia and repeatedly pointed out that the bill's authors ignored proposals from experienced representatives of the crypto industry.

My analysis: The postponement of deadlines is not a coincidence, but a reflection of deep disagreements between regulators and market participants. The bill in its current form creates rigid frameworks that could stifle the nascent industry rather than give it legal breathing room. If the revision indeed moves to the autumn session, there is a chance that the new composition of deputies will take into account the real needs of the market, and not just the interests of fiscal authorities.