Russia plans to prohibit individuals from conducting direct peer-to-peer cryptocurrency transactions from July 1, 2027, according to updated guidance from the Bank of Russia. Under the proposed framework, people would have to use authorized intermediaries when buying or selling crypto assets.
The central bank said direct exchanges between individuals will remain allowed only until the July 2027 deadline. The change would remove the ability to transfer crypto directly between participants without an approved exchange or another authorized service involved.
The regulator also reiterated a separate restriction concerning self-custody. Individuals are not permitted to move crypto assets from their digital accounts to their own non-custodial, or self-custodial, wallets. These wallets allow users to control their own private keys rather than relying on a platform to hold assets for them.
Russia expands regulated crypto infrastructure
The planned P2P restriction comes as Russia builds a more closely supervised digital-asset market. The Bank of Russia has authorized Sberbank, the country’s largest bank, to provide crypto exchange services. Sberbank had previously received approval to act as a digital-asset custodian.
The approvals follow crypto rules that took effect on Sept. 1. Those rules placed exchange operators and custodians under the supervision of the central bank, bringing key parts of the market into a regulated framework.
Russia continues to prohibit the use of cryptocurrency to pay for goods and services. The new measures therefore distinguish between regulated crypto-related services and the use of digital assets as a means of payment.
Enforcement questions remain
The restrictions could be difficult to implement fully, industry executives have previously told Cointelegraph, which originally reported the developments. Jan3 CEO Samson Mow said peer-to-peer trading is more resistant to regulatory crackdowns than activity conducted through centralized platforms.
Stepan Uherik, an executive at SatoshiLabs, said restrictions on wallet applications would not affect hardware and desktop wallets in the same way. Their comments highlight the practical challenge of limiting activity that can occur directly between users or through software and devices outside a centralized exchange.
The Bank of Russia’s guidance sets the legal timetable: direct P2P crypto transactions remain permitted until July 1, 2027, while the restriction on transfers from digital accounts to self-custody wallets has also been clarified.
Current market picture
Moneyiar market data at 21:13-21:14 on Oct. 15, 2026, showed mixed performance among the listed crypto assets:
- Comedian (BAN): $0.0532078875, up 0.27% in 24 hours and down 12.79% over seven days.
- Walrus (WAL): $0.0512760128, down 14.88% in 24 hours and up 54.01% over seven days.
- aelf (ELF): $0.062560076, down 0.23% in 24 hours and down 3.54% over seven days.
- Propy (PRO): $0.3720243815, up 2.07% in 24 hours and up 9.7% over seven days.
These market figures are separate from Russia’s regulatory announcement and do not indicate its effect on the assets listed above.
