BREAKING: Russia to Ban Direct P2P Crypto Trades From July 2027 — Self-Custody Transfers Also Blocked
Russia is preparing to end direct person-to-person crypto trading. Under updated guidance from the Bank of Russia, individuals will no longer be allowed to trade crypto directly with each other from July 1, 2027, and will have to use authorized intermediaries instead.
The central bank also clarified a second, stricter rule that is already in place: individuals are not allowed to move crypto from their digital accounts into their own self-custody wallets. Together, the two rules push everyday trading firmly inside the regulated system.
The decision comes while Russia is building a licensed crypto market. New rules that started on September 1 brought exchanges and custodians under central bank oversight, and the country's biggest bank, Sberbank, was recently authorized to offer crypto exchange services. Paying for goods and services with crypto remains banned.
For traders, this means more activity is likely to move onto licensed platforms, with less room for direct deals and private wallets. Industry executives have argued that peer-to-peer trading is hard to fully stop and that hardware and desktop wallets sit outside simple app bans, so enforcement will be closely watched.
Traders still have a long transition period, because direct P2P trades remain permitted until the July 2027 deadline. The key question now is how fast licensed Russian exchanges grow before the ban starts, and whether users shift to them or look for workarounds.
This post is news only, not financial advice. Always do your own research before buying or selling crypto.
Sources: Cointelegraph, Bank of Russia
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