Bank of Russia sets July 2027 deadline to ban P2P crypto transfers
CIE News ·
Based on reporting by Bitcoin.com News; not yet independently confirmed.
The Bank of Russia clarified that peer-to-peer crypto transfers and self-custody withdrawals will be prohibited by July 1, 2027, restricting domestic activity to 13 licensed platforms.
On October 18, 2026, the Central Bank of Russia issued regulatory guidance under Federal Law No. 282-FZ, stating that direct peer-to-peer cryptocurrency transfers between residents will be banned starting July 1, 2027. Russian residents will be required to execute transactions exclusively through licensed digital currency exchanges or brokers, according to Bitcoin.com News. Only 13 entities currently hold this authorization, including Sberbank and VTB Bank.
The updated regulatory framework also prohibits withdrawals from licensed platform accounts to external self-custody wallets, even if both accounts belong to the same person. Furthermore, transactions between accounts belonging to different individuals on licensed venues are barred under Part 5 of Article 31. While domestic cryptocurrency payments remain prohibited, the framework permits cross-border trade settlements using approved digital assets to bypass international sanctions.
Sberbank Deputy Chairman of the Executive Board Anatoly Popov estimated that only about 20% of domestic trading volume will shift to licensed platforms, with the remainder taking longer to migrate. Deputy Finance Minister Ivan Chebeskov estimated that approximately 20 million Russian citizens hold 3.7 trillion rubles in digital assets.
Key facts
- P2P ban takes effect July 1, 2027
- 13 licensed platforms approved
- Self-custody withdrawals barred
- Estimated 20% volume migration
Read the original at Bitcoin.com News