Russia Moves to Ban Direct Crypto Trading, Forcing Citizens Into State-Regulated Exchanges by 2027

Russia’s Central Bank plans to prohibit individuals from directly buying and selling cryptocurrency to each other starting July 1, 2027, according to The Moscow Times on October 15.

The Moscow Times reported that peer-to-peer (P2P) cryptocurrency transactions between individuals will remain permitted only until that date. Afterward, Russians will have to conduct such transactions through regulated intermediaries, including licensed brokers and registered cryptocurrency exchanges.

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According to the outlet, the restrictions will also affect cryptocurrency transfers within Russia’s regulated financial infrastructure. The Central Bank will not permit transfers from regulated digital accounts to privately controlled cold wallets. Transfers between individuals using addresses administered by Russian digital depositories will also be subject to restrictions.

"Yes, but only until July 1, 2027," the Central Bank stated when asked whether individuals could continue trading cryptocurrency directly. The regulator clarified that Federal Law No. 282-FZ does not provide for direct P2P transactions between individuals after that date.