Russia will ban direct peer-to-peer crypto trades between individuals from July 1, 2027, the Bank of Russia says. Individuals must then use authorized intermediaries, while transfers to self-custody wallets are already barred.
Russia will ban direct peer-to-peer (P2P) crypto transactions between individuals, requiring them to use authorized intermediaries for such trades. The Bank of Russia, the country's central bank, confirmed that such transactions stay permitted only until July 1, 2027 in guidance updated Monday.
The regulator also clarified that individuals may not transfer crypto assets from their digital accounts to their own non-custodial wallets, a form of self-custody.
Part of a wider regulated market
The move comes as Russia expands its regulated crypto market. On Monday, the Bank of Russia authorized Sberbank, the country's largest bank, to offer crypto exchange services after earlier approving it as a digital asset custodian.
Russia's new crypto rules came into force on Sept. 1 and brought exchange operators and custodians under central bank oversight. The country also continues to prohibit cryptocurrency payments for goods and services.
What the law sets out
Crypto Briefing reports that the ban stems from Federal Law No. 282-FZ, which President Vladimir Putin signed on August 4, 2026. It adds that non-qualified investors face a purchase limit of 300,000 rubles per year per intermediary for the most liquid digital assets, while qualified investors face no such cap.
Sberbank estimates that regulated trading volumes could reach approximately $46 billion in the first year under the new rules, according to Crypto Briefing.
Enforcement may prove difficult
Industry executives have previously told Cointelegraph that restrictions on P2P trading and noncustodial wallets may be difficult to enforce. Jan3 CEO Samson Mow said P2P trading is more resilient to regulatory crackdowns than centralized platforms.
Sources: Cointelegraph, Crypto Briefing
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