Russia Plans 2027 Ban on Crypto Trading Through Self-Custody Wallets

Russia's central bank plans to prohibit residents from trading crypto through self-custody wallets beginning July 1, 2027, channeling those transactions through licensed brokers and exchanges. The prohibition covers trades made through self-custody wallets and transfers from regulated brokers into those wallets. It also bars transfers between licensed exchange accounts held by different people. Customers could not withdraw from an exchange account to a self-custody wallet, even when both accounts belong to the same person. Under the framework, residents would need to use licensed brokers or exchanges for crypto trading. Thirteen institutions are currently authorized to provide digital-currency trading services, including VTB Bank and Sberbank. Deputy Finance Minister Ivan Chebeskov estimated that about 20 million Russians hold crypto assets worth nearly $44 billion.

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