Russia Pushes Crypto Prison Law Past Elections
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Russia has delayed second and third readings of a bill that would criminalize illegal crypto exchange with penalties up to seven years, postponing finalization until after the September 20 parliamentary elections. The law passed its first reading in July and is slated to take effect in July 2027, giving the crypto industry time to adapt but increasing regulatory and security risk for exchanges, DeFi services and token adoption in Russia.
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- Russia’s crypto prison law second reading delayed until after the September elections.
- Illegal crypto exchange in Russia outside licensed entities carries a seven-year sentence.
- Russia’s crypto penalties are to come into force in July 2027, giving the industry time to adapt.
Russia’s law criminalizing illegal cryptocurrency exchange will not be finalized before parliamentary elections, with second and third readings pushed to the new State Duma’s autumn session.
The head of the Duma’s Financial Markets Committee confirmed this week that the bill, which carries sentences of up to seven years for illegal crypto exchange, has been shelved until after elections conclude on 20th September.
Background: What the Law Would Do
The bill passed its first reading in early July and targets what Russian authorities define as the illegal organization of cryptocurrency circ…
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