Although the laws "on financial assets" have been finalized in Russia, they will not be adopted until the Coronavirus is fully under control, said an official statement.

Postponement of adoption

The Russian authorities have repeatedly postponed the adoption of crypto-regulation, mainly due to numerous disagreements within state power.

Indeed, according to Anatoly Aksakov, the chairman of the Duma's financial markets commission, the central bank has been opposing the legalization of cryptocurrencies for years while the Russian lower house strongly recommended regulating the crypto-industry. Russia postpones adoption of crypto-regulations due to Coronavirus

However, after much discussion, the Duma has reportedly managed to finalize a bill on cryptocurrencies. However, it will not be adopted until the Coronavirus is not fully controlled by the authorities, specifies Anatoly Aksakov.

In fact, the entire legislative process has been significantly slowed down by the fight against the COVID-19 pandemic. The official also pointed out that the proposed bill only concerns exchanges in cryptocurrencies and does not regulate mining activities.