Russia bans P2P crypto transfers, approves 11 licensed exchanges

Russia’s central bank has clarified that its newly enacted digital currency law bans individuals from making peer-to-peer cryptocurrency transfers and prohibits the movement of crypto assets to non-custodial wallets. The regulation, which came into effect on September 1, strictly defines the legal frameworks for acquiring, storing, and trading digital currencies in the country. The Central Bank of Russia (CBR) asserted that direct cryptocurrency transfers between individuals are not allowed under Part 5 of Article 31 of Federal Law No. 282-FZ. This regulation is rooted in the country’s law “On digital currencies and digital rights,” introduced earlier this year. The CBR emphasized this point through a recent Q&A session, making it clear that personal digital currency transfers via identifier addresses are not permitted.

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