Following a series of delays, Russia’s principal cryptocurrency law is due to be postponed again, this time because of the COVID-19 pandemic.

According to the chairman of the Russian State Duma Committee on Financial Markets, Anatoly Aksakov, Russia’s crypto law - the bill “On Digital Financial Assets” – has been finalised but will not be implemented until the end of spring this year.

As per a report filed on Tuesday by the country’s RBC news agency, Aksakov has stated that past delays in the adoption of the crypto bill were a result of disagreements on the new asset type between local authorities, reports Cointelegraph.

Back in July 2019, Aksakov said of the delay: "The law on the DFA (“On Digital Financial Assets” bill) is set to decide whether we will prohibit cryptocurrencies as a medium of exchange in Russian legislation, meaning that there will be no exchange points nor exchanges that work with cryptocurrencies. We have not yet reached consensus on the issue. We need to define what cryptocurrency is at the legislative level. Then there is a fork in the road: we either prohibit organizing infrastructure for the purchase and sale of cryptocurrencies in Russia, or allow it.”

Aksakov, who is also National Banking Council chairman at Russia’s central bank, allegedly said the bank was opposed to the legalisation of cryptocurrency, although the State Duma was in support of certain crypto initiatives.

Nevertheless, the crypto bill is now being postponed due to the coronavirus pandemic. All legislative actions are slowing down as the country focuses on combatting the spread of the virus, according to Aksakov.

Since initially being introduced in January 2018, the bill has suffered a number of delays and setbacks.

The National Banking Council chairman went on to add that this latest delay in adopting the country’s cryptocurrency legislation followed Russia’s largest one-day rise in COVID-19 cases for the sixth consecutive day. Reuters reported that Moscow authorities have instructed people to self-isolate whilst a nationwide lockdown is being contemplated.

Towards the end of last month, the Ministry of Economic Development of the Russian Federation reportedly unveiled a draft that would permit cryptocurrency testing and blockchain developments within a special regulatory sandbox.