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Russia will stop individuals from buying and selling cryptocurrency directly with one another on July 1, 2027, under guidance the Bank of Russia updated on Oct. 12, according to Cointribune. Crypto.news reported that June 30, 2027 is the last day residents can trade through the direct peer-to-peer route.
After that date, Article 30 of Federal Law No. 282-FZ will no longer treat transactions between two individuals as authorized operations, the publications reported. Buyers and sellers will have to go through intermediaries authorized to “organize the circulation” of digital currencies, including brokers licensed by the Bank of Russia and exchange operators on its official register. Crypto.news reported that the central bank provides registers and a financial-market participant checking service so users can verify a provider’s status.
Also read: Sberbank Cleared to Trade Crypto and Custody Assets in Russia
Key facts
- Direct P2P crypto trading is permitted only until July 1, 2027; Crypto.news put the final day at June 30, 2027.
- Article 30 of Federal Law No. 282-FZ, signed in August and effective Sept. 1, 2026, governs the change.
- Non-qualified investors face an assessment before buying and a 300,000-ruble annual purchase cap per intermediary, about $3,600.
- Transfers from regulated digital accounts to a person’s own noncustodial wallet are already barred under part 9 of Article 31.
- Sberbank and Moscow Exchange plan to launch crypto services on Dec. 1.
What changes for Russian users
The shift ends a model that became entrenched after Binance withdrew from the Russian market in 2023, when many users bought tokens such as USDT by sending rubles straight to a seller’s bank account. Bitcoin does not become illegal on July 1, 2027 — Cointribune noted that coins like bitcoin, ether and USDT are already part of the assets accessible to ordinary investors inside the new framework. What disappears is the direct counterparty route, replaced by brokers, depositories and exchange operators that sit inside the central bank’s perimeter.
Ambcrypto reported that the self-custody withdrawal ban is already in force, not scheduled for 2027, and said the rules cap retail crypto investment at about $3.5K per year. Cointribune put that figure at 300,000 rubles, or roughly $3,600, for non-qualified buyers. Crypto.news noted the framework leaves qualified investors subject to testing but without the same annual purchase ceiling.
Also read: Sberbank Cleared for Crypto Trading Ahead of Dec 1 Launch
Institutions move in
Russia’s largest bank is positioning itself ahead of the deadline. Crypto.news reported that Sberbank had secured crypto exchange approval by Oct. 12 and plans its first crypto products on Dec. 1 through existing customer interfaces, with Bitcoin, Ether and USDT expected among the first supported assets. Cointribune reported that Sberbank is already testing purchases and sales of those three assets.
Moscow Exchange senior managing director Boris Blokhin told reporters on Oct. 8 that the venue planned to enable crypto transactions from Dec. 1 and was testing operations with professional market participants, Interfax reported, according to Crypto.news. Blokhin said participants would open accounts with a partner settlement digital depository and that the exchange would not need additional permits or licenses to launch the service.
Crypto.news also reported that Russia had registered its first exchanges and custodians in October, with the exchange register reaching nine organizations and the digital depository register five. VTB, Zefir, Sistema Crypto and T Invest Lab were among the initial exchange operators, while Sberbank, VTB, Atomyze, Voltari and Cloud Infrastructure appeared in the depository register. Institutions admitted through transitional provisions have until Sept. 1, 2027 to meet remaining operational requirements.
Why it matters
Moscow is consolidating crypto activity around identifiable intermediaries rather than banning the asset class — a reversal from the period when a significant share of Russian crypto flows sat outside regulated finance. Retail users lose the cheapest route into tokens and the ability to move regulated holdings into wallets where they control their own keys, while banks and registered venues gain a captive customer base. The pattern extends beyond Russia: Ambcrypto reported that Brazil, Thailand and the EU zone are adopting similar restrictions, though their stated aims center on anti-money laundering, fraud and tax evasion rather than capital control. Ambcrypto also cited Chainalysis data showing global P2P and personal wallet flows rose about 300% to $228 billion over the past year.
What to watch
The immediate test is Dec. 1, when Sberbank and Moscow Exchange are due to switch on crypto services; how smoothly those launches run will shape whether users migrate to the supervised system or seek workarounds. After that, the July 1, 2027 deadline stands as the hard line for peer-to-peer trading, with Sept. 1, 2027 as the date transitional institutions must finish meeting operational requirements. None of this is financial advice, and crypto markets remain volatile and uncertain.
Reported by cointribune.com.
Sources: Cointribune, Crypto.news, Ambcrypto