The self-custody route is also blocked. The central bank clarified that individuals cannot move crypto from their regulated digital accounts into their own non-custodial wallets. Transfers between individuals using addresses run by regulated digital depositories are not permitted either, so coins bought inside the system are meant to stay inside it.
The regulated market itself stays open. Ordinary, non-qualified investors can buy eligible crypto worth up to about 300,000 rubles a year through licensed intermediaries, and the assets named as eligible are Bitcoin, Ether and USDT. Russia's new crypto rules took effect on September 1, putting exchange operators and custodians under central bank oversight, while paying for goods and services with crypto remains banned.
Some industry executives doubt how well a P2P ban can be enforced in practice. Direct trading between individuals is hard for regulators to watch, and wallet software on phones and computers sits outside any single exchange. That debate, however, does not change the legal deadline traders in Russia now face.
For traders, the message is clear: Russia wants all crypto activity inside a licensed, supervised circuit, with yearly limits for ordinary investors and no easy exit to a private wallet. Anyone in Russia who still trades person-to-person has until the middle of 2027 to move to an approved platform, and that shift could push more volume onto the country's newly licensed exchanges.
This post is news only, not financial advice. Always do your own research before buying or selling crypto.
Sources: Cointelegraph, CoinDesk, Crypto.news, Cryptopolitan
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