Russia Prohibits Self‑Custody Withdrawals from Regulated Crypto Accounts

What happened

Russia’s central bank has clarified that individuals can no longer withdraw cryptocurrency from regulated digital accounts to their own self‑custody wallets. The restriction, which took effect on September 1, 2026, is part of the country’s new crypto‑market law and applies to all resident individuals without exception for qualified investors.

Key numbers and dates

• Effective restriction date: September 1, 2026
• Guidance updated: October!2, 2026
• Experimental‑regime firms deadline: September 1, 2027
• Direct peer‑to‑peer trading deadline: July 1, 2027
• Article 31(9) of Federal Law No. 282‑FZ governs self‑custody withdrawals
• Article 30(1) governs future P2P trading

What the Bank of Russia guidance says

The central bank’s guidance, updated on October!2, cites Article 31(9) of Federal Law No. 282‑FZ. It states that transfers to a non‑custodial wallet belonging to the same individual are not permitted. The rule covers withdrawals from Russia’s regulated custody system, where a digital account records crypto holdings and digital depositories – registered institutions that record and transfer assets – provide wallet addresses.

Under Article 31, an individual who passes a required test and receives a risk notice may move crypto outside the domestic depository system to a wallet run by a legally authorized foreign custodian. This is distinct from withdrawing to a personal wallet outside institutional custody. The law also provides exceptions for foreign‑trade settlements and mining.

The guidance also bans transfers between individuals using addresses administered by digital depositories, including transfers that arise from transactions between those individuals.

**Key terms explained**:
  “Self‑custody wallet” – a wallet that a user controls directly without a third‑party provider.
  “Digital depository” – a registered institution that records and transfers crypto assets.
  “Regulated custody system” – the official framework for holding crypto in Russia.

Law details and upcoming deadlines

The restrictions are part of the general crypto‑market law, not limited to an experimental program. Transition provisions preserve existing experimental programs but allow early termination by the central bank. Experimental‑regime firms that enter the new exchange and depository registers must follow the law’s transaction requirements from registration and have until September 1, 2027 to meet remaining requirements.

Direct peer‑to‑peer trading between individuals remains permitted only until July 1, 2027. After that date, residents who are not authorized crypto‑market intermediaries must transact through licensed brokers or crypto exchange operators entered in the Bank of Russia’s register, subject to statutory exceptions.

Why this matters

The rule limits how Russian residents can access crypto they hold in regulated accounts. It eliminates self‑custody withdrawals and requires the use of approved intermediaries for most transactions, affecting users who seek full control over their assets.

What happens next

Key upcoming milestones include September 1, 2027 for experimental‑regime firms to meet remaining law requirements, and July 1, 2027 when direct peer‑to‑peer trading will be prohibited unless conducted through authorized intermediaries.

Sources

• The Defiant

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