Russia advances crypto bill that could pave way for criminal penalties

Russian lawmakers passed a first reading of a bill regulating crypto through licensed intermediaries, with key rules set to take effect in July 2026 and 2027.

Russia’s lower house of parliament passed a bill in first reading on Tuesday that would create the country’s core legal framework for digital currency, moving Moscow closer to a system that channels crypto trading through licensed intermediaries under Bank of Russia oversight.

The draft bill No. 1194918-8, titled “On Digital Currency and Digital Rights,” passed its first reading in the State Duma on Tuesday, according to official records.

The bill would allow Russians to buy and sell crypto through approved intermediaries as early as July, while banning unlicensed crypto platforms beginning in July 2027, if the draft becomes law.

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