The Bank of Russia has designated June 30, 2027, as the final day for citizens to buy and sell crypto assets directly between individuals without intermediaries. In official guidance released on October 12, 2026, the regulator confirmed that peer-to-peer (P2P) trading among individuals will be prohibited starting July 1, 2027.
The policy refers to Article 30 of Federal Law No. 282-FZ on Digital Currency and Digital Rights. Signed by President Vladimir Putin on August 4, 2026, the law has been in effect since September 1, 2026. For crypto holders in Russia, the new provisions are not merely a shift in intermediary licensing, but the shutdown of self-custody access.
Ban on Transfers to Private Wallets
Starting July 1, 2027, Russian citizens will only be permitted to trade crypto through brokers licensed by the Bank of Russia or officially registered exchange operators. The scope for autonomous transactions has been curtailed under the new provisions.
Citing Article 31, Paragraph 9, the regulator prohibits withdrawals and transfers of crypto assets from regulated digital accounts to private non-custodial wallets where owners hold their own private keys. Under Article 31, Paragraph 5, transfers between individuals via identifier addresses managed by a digital depository are also prohibited, including settlements between clients.
Russian banks are required to reject customer transactions funding crypto wallets on foreign platforms and are barred from processing ruble cashouts from overseas platforms. This rule cuts off the P2P channel that citizens have long relied on to swap rubles for the USDT stablecoin via bank cards, a method widely used since Binance offloaded its business to CommEX in 2023.
$3,600 Purchase Limit and the Entry of State Banks
For the general public, access to the crypto market has been restricted through qualification requirements. Non-qualified retail investors must pass an assessment and are capped at purchasing a maximum of 300,000 rubles (around $3,600) in crypto per year per intermediary. Asset selection is restricted to just three coins: Bitcoin, Ethereum, and USDT. Crypto lending services to the general public are also strictly prohibited, allowed only through licensed brokers, trustees, registered exchanges, or clearing houses.
As room for individual maneuvering shrinks, formal banking institutions are stepping in. Sberbank, Russia’s largest bank, was officially listed as a crypto exchange operator on October 12, 2026, and is preparing to launch its debut crypto product on December 1, 2026. The state-owned bank joins VTB and T-Invest Lab on the official registry.
Open for Foreign Sanctions, Locked Down Domestically
Domestic payments for goods and services using crypto remain banned. However, regulators have made an exception for the international trade sector: digital assets are officially permitted as settlement instruments for cross-border transactions to circumvent international sanctions.
For coin holders in Russia, the direction of this policy draws a clear line. The government is leveraging the flexibility of crypto to break through global trade isolation, yet its own citizens are barred from holding private keys and required to transact under the supervision of registered exchanges.
Reported via Decrypt.
Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
