Russia Will Soon Ban Peer-to-Peer Bitcoin Trading, Central Bank Confirms

In brief

• The Bank of Russia confirmed in an October 12 FAQ that direct crypto trades between individuals are legal only until July 1, 2027, citing new law.
• The regulator also says individuals cannot move crypto from a digital account to their own non-custodial wallet or transfer it to another person through depository-run addresses.
• Sberbank joined the central bank's crypto exchange register on October 12 and plans to launch its first crypto products on December 1.

Russians have a little over eight months left to trade Bitcoin and other crypto directly with each other. From July 1, 2027, peer-to-peer deals—where two people swap rubles for coins without a regulated middleman—will no longer be legal, the Bank of Russia confirmed this week.

The clarification sits in updated guidance the regulator posted on its official website on October 12.

The legal basis is Federal Law No. 282-FZ, “On Digital Currencies and Digital Rights,” which President Vladimir Putin signed on August 4 and which took effect September 1. Article 30 lists the crypto operations residents may carry out without a licensed intermediary, and from July 2027 that list no longer includes trades between individuals.

From that date, residents may only trade crypto through, or directly with, companies that “organize the circulation” of digital currencies—mainly brokers licensed by the Bank of Russia and crypto exchange organizations listed in its registry.