Russia Postpones Cryptocurrency Law Until September 2026 Amid Complex Negotiations

Russia has postponed the launch of its new cryptocurrency law until September 2026, citing the complexity of negotiations and the need for further revisions. The original deadline was July 1, but participants in the negotiations have had to clarify several key points, including rules for digital currency circulation, infrastructure requirements, and procedures for monitoring transactions.

The draft law 'On Digital Currency and Digital Rights' aims to set a unified regime for key market participants, including licensed intermediaries, digital depositories, and trading organizers. This will provide clarity for investors and ordinary citizens on purchasing, storing assets, and accessing trading platforms.

One of the most contentious issues has been the storage of digital assets, with the updated version allowing individuals to withdraw up to 100,000 rubles worth of cryptocurrency to personal web wallets. However, companies will still need clear requirements for recording transactions related to digital assets, as these do not resemble ordinary securities or currencies.

The full market launch is expected to take several more months, with the Bank of Russia needing to prepare by-laws that describe the operation of the new infrastructure in practice. Major participants are already preparing for the new regime, including testing infrastructure and developing solutions for buying and storing digital assets.