Russia to ban direct peer-to-peer crypto trades starting July 2027
Summary
Russia will prohibit direct cryptocurrency trades between individuals from July 1, 2027, requiring authorized intermediaries. Bank of Russia guidance also says individuals cannot transfer crypto from digital accounts to their own non-custodial wallets. The restrictions accompany the expansion of regulated crypto services: Sberbank has received approval to offer exchange services, following authorization as a custodian. New rules effective Sept. 1 brought exchange operators and custodians under central bank oversight, while crypto payments for goods and services remain banned. Industry executives question how effectively restrictions on peer-to-peer trading and self-custody can be enforced.
