Russia Sets July 2027 Ban on Direct P2P Crypto Trading
In this article
The Bank of Russia has set July 1, 2027, as the cutoff for direct peer-to-peer cryptocurrency trading between individuals, requiring residents to use authorized intermediaries for such transactions. According to reporting by Crypto.news, the central bank’s guidance, updated on October 12, clarifies that Article 30 of Federal Law No. 282-FZ permits direct trades only until that deadline.
The move is part of Russia’s broader effort to bring cryptocurrency activities under regulatory oversight, following the implementation of its main crypto framework on September 1, 2026. Cointelegraph reported that the Bank of Russia also authorized Sberbank, the country’s largest bank, to offer crypto exchange services, after previously approving it as a digital asset custodian.
Restrictions on personal wallet transfers and investor limits
The central bank’s October guidance also addresses transfers from regulated digital accounts to noncustodial wallets. Citing part 9 of Article 31, the regulator states that such transfers are not permitted, meaning individuals cannot withdraw crypto from a regulated account to a wallet where they control the private keys. Additionally, part 5 of Article 31 prohibits transfers between individuals through address identifiers administered by a digital depository.
For individuals using authorized providers, Russia’s framework maintains different access conditions for qualified and non-qualified investors. Non-qualified investors must complete an assessment before purchasing eligible cryptocurrencies and are subject to a 300,000-ruble annual purchase limit per intermediary. Qualified investors must also complete testing but face no such annual ceiling.
Industry executives have previously told Cointelegraph that restrictions on P2P crypto 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, while SatoshiLabs executive Stepan Uherik said wallet app bans would leave hardware and desktop wallets unaffected.
Why it matters
Russia’s decision to ban direct P2P crypto trading and restrict transfers to self-custody wallets represents one of the most stringent regulatory approaches to cryptocurrency ownership among major economies. For Russian residents, the changes mean that after June 2027, they will no longer be able to trade crypto directly with one another or move assets from regulated accounts to personal wallets. This could push some users toward unregulated platforms or foreign services, potentially reducing the effectiveness of the rules. The restrictions also highlight a growing global trend of governments seeking to control the movement of digital assets, though enforcement remains a challenge.
What to watch
The next major milestone will be December 1, 2026, when Sberbank and Moscow Exchange are set to launch their cryptocurrency services. How these services operate within the new framework will provide early indications of the practical impact of the P2P ban and wallet restrictions. Additionally, the Bank of Russia’s ongoing registration of exchanges and depositories will shape the competitive landscape for authorized intermediaries.
Frequently Asked Questions
When does Russia’s ban on direct P2P crypto trading take effect?
The ban takes effect on July 1, 2027, with June 30, 2027, being the last day for direct trades.
Can individuals transfer crypto from regulated accounts to personal wallets?
No, the Bank of Russia’s guidance states that transfers from a regulated digital account to a noncustodial wallet controlled by the same person are not permitted.
What are the investment limits for non-qualified investors?
Non-qualified investors can purchase up to 300,000 rubles worth of eligible cryptocurrencies annually through each authorized intermediary.
Which banks and exchanges are offering crypto services in Russia?
Sberbank and the Moscow Exchange have announced plans to launch cryptocurrency services on December 1, 2026, with Sberbank recently granted exchange approval.
Sources: crypto.news, Cointelegraph
