Bank of Russia sets July 2027 ban on direct peer-to-peer crypto trades
CIE News ·
Based on reporting by crypto.news; not yet independently confirmed.
The Bank of Russia confirmed peer-to-peer crypto trades will become illegal after July 1, 2027, requiring users to transact through accredited intermediaries with a 300,000 ruble annual limit for retail.
The Bank of Russia issued regulatory guidance confirming that direct peer-to-peer cryptocurrency transactions between individuals will become illegal starting July 1, 2027, according to crypto.news and themoscowtimes.com. Under Federal Law No. 282-FZ signed by President Vladimir Putin, residents must execute digital asset trades through state-licensed intermediaries such as authorized brokers, exchanges, digital depositories, and registered banks.
The updated framework caps retail crypto purchases for nonqualified investors at 300,000 rubles ($3,690) per year per intermediary, subject to passing a mandatory test. Crypto.news reported that the central bank identified Bitcoin (BTC), Ether (ETH), and USDT as assets that could meet eligibility rules for standard investors, though withdrawals from regulated accounts into self-custody wallets will be prohibited.
The July 1, 2027, deadline also applies to platforms and digital depositories seeking required operational licenses. According to themoscowtimes.com, the central bank's registry of authorized operators includes 12 entities, including Sberbank and VTB Bank, while domestic crypto payments remain prohibited alongside allowances for cross-border settlements.
Key facts
- P2P trades banned July 1, 2027
- 300,000 ruble annual retail cap
- Self-custody transfers prohibited
- Licensed intermediaries mandated
Read the original at crypto.news