Russia’s long-awaited digital currency legislation is encountering delays, while authorities prepare to impose a sweeping ban on cryptocurrency advertising. The bill “On Digital Currency and Digital Rights” will not meet its initial July 1 deadline, admitted Alexey Yakovlev, head of the Ministry of Finance’s Financial Policy Department. The draft is ready, but the State Duma committee’s approval and the second reading will happen with a slight delay, Yakovlev told Interfax, expecting adoption “somewhere around that time.”
The legislation, based on a December 2025 policy from the Central Bank of Russia (CBR), will create a comprehensive framework for investing, exchanging, and trading digital assets. For the first time, ordinary Russian citizens will legally access crypto through licensed intermediaries, with an annual investment cap below $4,000. Only the largest coins—such as Bitcoin (BTC) and Ethereum (ETH)—and major stablecoins like Tether’s USDT and Circle’s USDC will be permitted for non-professional investors. Domestic transactions without authorized banks, exchanges, or trustees will be prohibited, including transfers to non‑custodial wallets.
Even more restrictive, the authorities are advancing a ban on advertising decentralized digital assets. Names of specific cryptocurrencies, such as “Bitcoin,” will not be allowed in any ads, videos, or promotional materials. Ekaterina Lozgacheva of the CBR explained that while crypto services may be advertised, the assets themselves are too high‑risk to promote. Confirming the upcoming restrictions, Anatoly Aksakov, chairman of the parliamentary financial markets committee, clarified that industry businesses may disclose their involvement in crypto, but cannot detail their specific activities.
