Key facts
- Direct P2P crypto trades banned from July 1, 2027.
- Authorized intermediaries required for P2P crypto trades.
- Transfers from digital accounts to self-custodial wallets prohibited.
- Sberbank authorized for crypto exchange services and custody.
- New crypto rules effective September 1 place operators under central bank oversight.
Russia will ban direct peer-to-peer cryptocurrency transactions between individuals starting July 1, 2027, requiring the use of authorized intermediaries. The Bank of Russia confirmed that individuals are also not allowed to transfer crypto assets from their digital accounts to their own non-custodial, or self-custodial, wallets. The move aligns with Russia's expanding regulated crypto market, following the recent authorization of Sberbank, the country's largest bank, to offer crypto exchange services and act as a digital asset custodian. New crypto rules, effective September 1, brought exchange operators and custodians under central bank oversight. Russia continues to prohibit cryptocurrency payments for goods and services.