Russia Sets July 2027 Deadline to Halt P2P Crypto Transactions

The Central Bank of Russia clarified that transactions between Russian citizens using self-custody wallets or from a regulated broker to a self-custody wallet will be banned starting July 1, 2027. The institution stressed that these transactions can only be made using regulated brokers. The Russian government is once again tightening control over the cryptocurrency industry and crypto holders exercising self-custody of their assets. In a series of explanations on the current state of affairs regarding cryptocurrency regulation, the Bank of Russia stressed that, per Part 1 of Article 30 of the Federal Law № 282-FZ, Russian residents can transfer crypto assets using brokers or exchanges licensed by the bank.

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