Russia's State Duma passes first reading of law imposing administrative liability on crypto exchanges, with fines and disqualification penalties effective July 1, 2027.
Regulation & Gov ·
Russia's State Duma has advanced a draft law through first reading that would establish administrative penalties for cryptocurrency exchanges. Officials found in violation would face fines of 30,000 to 50,000 rubles and potential disqualification lasting one to two years, while organizations could be fined between 700,000 and 1 million rubles. The measure is scheduled to take effect on July 1, 2027.
The legislation represents a regulatory tightening around crypto trading venues in Russia. The administrative framework targets exchange operators and their officials directly, establishing financial and employment consequences for non-compliance. The fine structure scales penalties by entity type—individual officers face lower thresholds than legal entities.
The law's path to implementation remains incomplete. It has cleared only the first of multiple required readings in the Duma, meaning substantial amendments could still occur before final passage and presidential signature. The July 2027 effective date provides a transitional window, though the specific compliance obligations exchanges must meet under the final version remain undefined at this stage.