The cryptocurrency law, which is supposed to launch new rules for the digital asset market in Russia, will not come into force before September 2026. The document has not yet reached the second reading in the State Duma: it is being revised due to a large number of amendments and additional approvals between agencies.
Why the Timeline Has Been Postponed Again
This refers to the draft law “On Digital Currency and Digital Rights.” It was originally assumed that regulation would begin on July 1, but the preparation turned out to be more complicated: participants in the negotiations had to clarify several blocks separately.
- Rules for the circulation of digital currencies.
- Infrastructure requirements.
- Procedures for monitoring transactions.
The head of the State Duma Committee on the Financial Market, Anatoly Aksakov, is targeting July 21 for the market. The current schedule looks like this:
- July 21 — preliminary date for the second and third readings in the State Duma.
- After the readings — review in the Federation Council.
- Then — the president’s signature and possible launch of the federal law of the Russian Federation from September 1.
The future regulations are expected to set a unified regime for key market participants.
- Licensed intermediaries.
- Digital depositories.
- Trading organizers.
For investors and ordinary citizens, this means a clearer procedure for purchasing, storing assets, and accessing trading. For miners, accounting for received digital assets and monitoring transactions with them will become important. Cryptocurrency is gradually becoming a fully regulated object, where every transaction, asset storage, and access to trading require transparent rules.
How They Want to Solve the Cryptocurrency Storage Issue
One of the most controversial points is related to the storage of digital assets. In the updated version of the draft law, investors are expected to be allowed to withdraw cryptocurrency worth up to 100,000 rubles to personal web wallets. This also applies to private investors: an individual will be able to store part of their assets outside a digital depository if the amount does not exceed the established limit.
The initial version was stricter. It was assumed that all crypto assets should be held only in digital depositories under the control of Russian operators. The new approach looks more flexible, but the market still awaits precise rules: digital currency, Bitcoin, online digital currency exchange services, and other infrastructure elements should fall within a clear legal framework.
Separate importance will be given to accounting for transactions. For companies, a digital asset in accounting does not resemble an ordinary security or classic currency, so businesses will need clear requirements for recording such transactions, recognizing income, calculating the tax base, paying taxes, and interacting with regulatory authorities. The logic of taxation should depend on the transaction itself: buying, selling, storing, or withdrawing an asset requires different accounting. In this logic, the Bank of Russia, the Central Bank, and the Federal Tax Service of Russia may play an important role.
Full Market Launch Will Take Several More Months
Even after the law is adopted, the market will not start working instantly. The Bank of Russia will have to prepare by-laws that will describe the operation of the new infrastructure in practice. According to the regulator, the necessary documents may be ready by November.
Major participants are already preparing for the new regime. The Moscow Exchange is testing infrastructure for cryptocurrency trading, and financial companies are developing solutions for buying and storing digital assets. For trading platforms, the focus will be on licensing, transaction monitoring, and reliable storage of client assets; for miners — on accounting for received cryptocurrency and further transactions with it.
The key issue for the market remains balance: regulation should legalize the circulation of digital assets and at the same time set clear boundaries of responsibility. It is important for participants to understand in advance where tax arises, what requirements are imposed on intermediaries, and in what cases criminal liability is possible for violations of cryptocurrency circulation rules.
