Russia will cease allowing direct peer-to-peer crypto purchases and sales from 1 July 2027, said the central bank, which wants to bring the market under state control. Crypto transactions will be enabled through regulated intermediaries, including authorised exchanges, brokers and financial institutions. Retail investors will also see a limit of 300,000 rubles (~$3,690) in crypto they can purchase annually from any one intermediary.
Source: cbr.ru
The Bank of Russia told local media that direct selling would be permitted until 1 July 2027, but the practice would fall foul of the new rules. Some Russians may seek to circumvent the rules by characterising crypto sales as gifts or repayment of debts.
The law, approved by President Vladimir Putin over the summer, requires crypto trades to be made via intermediaries regulated by the central bank. These are likely to include crypto exchanges and traditional asset managers, as well as digital depositories.
The central bank has begun compiling an official list of authorised crypto operators. The registry contains 12 entities, including state-owned banks Sberbank and VTB. Exchanges and depositories must apply for a licence by 1 July 2027.
Russia’s crypto trading rules took effect on 1 September 2026. The law permits retail and qualified investors to make crypto purchases and sales through regulated channels. However, cryptos cannot be used to settle payments in rubles for goods and services within Russia even though cross-border payments are still allowed.
Russia to Ban Direct P2P Crypto Trades Starting July 2027
According to Cointelegraph, the Bank of Russia confirmed in updated guidance that direct peer-to-peer (P2P) cryptocurrency transactions between individuals will be banned starting July 1, 2027, requiring users to transact exclusively through authorized intermediaries. The central bank also clarified that individuals are prohibited from transferring crypto assets from regulated digital accounts to personal self-custody wallets.
— Wu Blockchain (@WuBlockchain) October 15, 2026
Moscow Exchange Russia’s largest stock exchange expects to begin trading crypto on 1 December 2026. The exchange has tested the offering with professional market participants.
Sberbank is also considering services related to digital assets. The bank has talked to clients about lending against crypto deposits and hopes to clear Bitcoin, Ethereum and Tether as collateral for borrowing once the relevant laws are passed.
Russia appears to have moved away from a crypto ban to increased oversight of the sector. Crypto trading will be allowed but under stricter rules and through regulated channels. For investors, that means looking to approved intermediaries to buy and sell digital assets and being aware of constraints on their purchases.
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