Russia to Ban Direct Peer-to-Peer Crypto Trades Starting July 2027
Direct crypto trades between individuals banned from July 2027
Russia plans to ban direct peer-to-peer cryptocurrency trades starting July 1, 2027, according to updated guidance from the Bank of Russia, the country's central bank.
The new rules mean individuals will no longer be allowed to exchange crypto assets directly with each other. Instead, all such trades must go through authorized intermediaries. The restriction ends the current practice of people trading crypto without using a middleman.
In addition, the central bank confirmed that people are not allowed to transfer crypto from their digital accounts to their own non-custodial wallets. A self-custody wallet is a digital wallet where the user holds the private keys themselves, rather than leaving their assets on an exchange or with a third party.
What the central bank guidance says
The Bank of Russia released the updated guidance on Monday. The regulator stated that direct P2P transactions between individuals will remain permitted only until July 1, 2027, after which they will be prohibited.
The guidance also clarified the existing rule against transferring crypto from digital accounts to personal self-custody wallets, confirming that this has already been prohibited.
Part of wider regulated crypto push
The move comes as Russia expands its regulated crypto market. On the same day the guidance was released, the Bank of Russia authorized Sberbank, the country's largest bank, to offer crypto exchange services. Sberbank had previously been approved as a digital asset custodian, meaning it can hold crypto assets on behalf of clients.
The changes follow new crypto rules that took effect on September 1, 2026. Those rules brought exchange operators and custodians under central bank oversight. Russia continues to prohibit using cryptocurrency for payments for goods and services.
Industry voices question enforceability
Industry executives have told Cointelegraph that restrictions on P2P trading and non-custodial wallets may be difficult to enforce.
Jan3 CEO Samson Mow said P2P trading is more resilient to regulatory crackdowns than centralized platforms. Stepan Uherik, an executive at SatoshiLabs, said bans on wallet apps would leave hardware and desktop wallets unaffected.
Why this matters
The ban marks a significant step in Russia's effort to bring crypto activity under state control. By requiring individuals to use authorized intermediaries, the government aims to increase oversight and reduce anonymous transactions. However, enforcement remains uncertain given the decentralized nature of cryptocurrency and the global availability of self-custody tools.
What happens next
The ban on direct P2P crypto trades takes effect on July 1, 2027. Until then, individuals can still conduct direct peer-to-peer transactions under the current rules.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.