Russia to ban peer-to-peer crypto trades: What does it mean for traders?

Russia has confirmed that direct peer-to-peer cryptocurrency transactions between individuals will be prohibited from July 1, 2027, requiring residents to conduct trades through authorized intermediaries. According to updated guidance published by the Bank of Russia on Oct. 12, individuals can continue trading cryptocurrencies directly with one another until the deadline, after which such transactions will no longer be permitted under Federal Law No. 282-FZ. The central bank clarified that individuals cannot transfer cryptocurrency from their digital accounts to their own noncustodial wallets. Transfers between individuals using addresses administered by regulated digital depositories are prohibited as well. The restrictions affect how Russian traders buy, sell and transfer cryptocurrencies, although the country has opened a regulated market where approved banks, brokers and exchange operators can provide trading services.

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