Russia's Cryptocurrency Law Delayed: Ministry of Finance Acknowledges Timeline Shift
The process of adopting bill No. 1194918-8 "On Digital Currency and Digital Rights" in Russia has faced another delay. Despite successfully passing the first reading on April 21, it will not be possible to approve the document by the planned deadline of July 1. This was officially confirmed by representatives of the Ministry of Finance.
Ministry of Finance Confirms: Law Will Not Be Passed by Summer
On the sidelines of the PMYUF-2026 forum, Alexei Yakovlev, Director of the Financial Policy Department at the Ministry of Finance, stated that although the document is "generally ready," its consideration in the State Duma committee and the second reading will take place after July 1. "We probably won't manage to pass it by July 1, but around that time," the official clarified. Thus, the expected launch of new rules from the beginning of the third quarter is postponed indefinitely.
Let me remind you that the bill establishes the basic legal framework for the legal circulation of digital currencies in Russia. Individuals and legal entities will be able to officially purchase cryptocurrency, but exclusively through certified operators: specialized exchange services from the Central Bank's registry, licensed brokers, and official trust managers. At the same time, the use of tokens to pay for goods and services within the country remains strictly prohibited.
Market Anticipated the Delay: Experts Sound the Alarm
Notably, information about a possible shift in timelines circulated in the industry long before official comments. For example, Sergei Mendeleev, founder of the Exved platform, reported on June 22 that discussion of the crypto initiative had effectively been removed from the work plan of the relevant State Duma committee. In his opinion, the current text of the bill requires serious revision, and it would be more logical to return it to the first reading stage, entrusting this task to the new composition of deputies during the fall session.
Mendeleev, who himself participated in discussions of future regulatory rules, emphasizes that the bill's authors ignored proposals from experienced representatives of the crypto industry. If this is not addressed, the market will face the same problems that previously arose when attempting to legalize the activities of miners.
Analytical conclusion from Cryptalist: Another delay is not just a bureaucratic glitch, but a symptom of a systemic problem. The Russian regulator is trying to create a tightly controlled model of the crypto market, but ignoring the opinion of the professional community and the technical realities of blockchain leads to stagnation. While the State Duma and the Ministry of Finance seek a compromise between fiscal control and innovation, the Russian market continues to move into the gray zone. The fall session will be a critical point: either the law will be passed taking into account the real needs of the industry, or it risks remaining a dead letter.