The Central Bank of the Russian Federation will take into account comments on the timing of the introduction of laws on the regulation of cryptocurrencies

The Central Bank of Russia intends to take into account the comments on synchronizing the timing of the ban on illegal activities with the launch of legal mechanisms in the field of cryptocurrencies. This was announced on April 16 by the first deputy chairman of the regulator, Vladimir Chistyukhin, at the Moscow Stock Exchange Forum.

"We will try to take this remark into account in order to synchronize the deadlines as much as possible, which, on the one hand, prohibit illegal activities, on the other hand, provide an opportunity to do this legally so that there is no time gap," the TASS news agency quoted Chistyukhin as saying.

It is noted that market participants have drawn attention to a possible gap between the entry into force of bans and the emergence of licensing mechanisms, which may complicate the work of companies.

"The Banking Association and representatives of individual banks <...> we drew attention to the fact that the norms of the draft law are designed in such a way that certain prohibitions on activities are introduced from the moment it comes into force, and the possibility of obtaining certain licenses and carrying out certain activities is only after a certain period of time. I think this is a fair comment, and we will try to take it into account," the first deputy chairman added.

It is clarified that the draft law on the regulation of cryptocurrencies is also aimed at reducing administrative barriers when obtaining licenses. In addition, the Central Bank emphasized the need to develop a domestic crypto infrastructure without limiting users who want to open crypto wallets in foreign jurisdictions.

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On April 14, the State Duma adopted in the first reading a bill on administrative penalties for illegal mining of cryptocurrencies. The authors of the document point out that overloads in electrical networks lead to forced shutdowns of bona fide consumers, a decrease in the reliability of the power system and the failure of household appliances.

Starting from July 1, 2026, Russian currency residents, including both individuals and companies, will be required to notify the tax authorities about the opening or closing of blockchain wallets in foreign systems that are not managed by Russian depositories.