Russia to Ban Direct P2P Crypto Trades From July 2027

Russia will ban direct P2P crypto trades between individuals from July 1, 2027, requiring users to route such transactions through authorized intermediaries, according to updated guidance from the Bank of Russia. The central bank also confirmed that transfers from regulated digital accounts to self-custody wallets remain prohibited.

Why Russia Is Restricting Peer-to-Peer Crypto

The restriction ends the ability of ordinary users to exchange digital assets peer-to-peer without an authorized intermediary after the deadline. The guidance was published Monday, as Moscow continues building a supervised crypto market under rules that took effect Sept. 1, bringing exchange operators and custodians under central bank oversight.

On the same day, the Bank of Russia authorized Sberbank, the country’s largest bank, to provide crypto exchange services after earlier approving it as a digital asset custodian. The move shows Russia is expanding regulated access while keeping cryptocurrency payments for goods and services prohibited.

Industry figures have warned that bans on P2P trading and non-custodial wallets may be hard to enforce. Jan3 CEO Samson Mow has said peer-to-peer trading can be more resilient than centralized platforms, while SatoshiLabs executive Stepan Uherik has argued that restrictions on wallet apps would not fully affect hardware or desktop wallets.