Russia will no longer allow individuals to trade Bitcoin and other cryptocurrencies directly with one another from July 1, 2027, the Bank of Russia has confirmed. The change will require residents to use regulated companies for permitted crypto transactions and will also restrict transfers to personal non-custodial wallets.
New limits on direct crypto deals
The central bank set out the timetable in an updated FAQ published on October 12. It cited Federal Law No. 282-FZ, the legislation on digital currencies and digital rights signed by President Vladimir Putin on August 4 and effective from September 1.
Under Article 30 of the law, residents may conduct certain crypto operations without a licensed intermediary for now. However, from July 1, 2027, direct transactions between individuals will no longer be included among the permitted activities.
Peer-to-peer, or P2P, trading generally involves two people exchanging rubles and digital assets without using a regulated broker or exchange. In Russia, this has been a common route for obtaining stablecoins such as USDT, a token designed to track the value of the US dollar. Following Binance’s sale of its Russian business to CommEX in 2023, buyers have often sent rubles to a seller’s bank card and received USDT in return.
Once the new restriction takes effect, residents will be allowed to trade crypto only through, or directly with, companies that organize the circulation of digital currencies. These will mainly include brokers licensed by the Bank of Russia and crypto exchange organizations included in the regulator’s official register.
The transition period means crypto exchange organizations can continue operating without registration until July 1, 2027. Registered organizations must be Russian companies with at least 15 million rubles, or about $179,000, in equity capital.
Wallet transfers and lending also restricted
The Bank of Russia’s clarification covers more than transactions between buyers and sellers. Individuals will not be allowed to transfer crypto from a digital account to their own non-custodial wallet. In a non-custodial arrangement, the user—not a company—controls the private keys.
Transfers between individuals using addresses operated by a digital depository will also be prohibited. A digital depository is a licensed company that records ownership of digital assets. The restriction will apply even when such a transfer is intended to settle a deal between two people.
Ordinary users will also be unable to lend crypto. The law reserves the role of crypto lender for brokers, trustees, exchange organizations and clearing houses.
The framework distinguishes between qualified and non-qualified investors. Non-qualified investors—people without professional investor status—must pass a test and will be limited to buying up to 300,000 rubles, approximately $3,600, of crypto each year. Qualified investors will not face that cap. Bitcoin, Ethereum and USDT are the assets listed by the central bank for non-qualified buyers.
The rules do not permit Russians to use digital assets to pay for goods and services inside the country. At the same time, crypto remains permitted for foreign-trade settlements. During the bill’s first reading in April, Kaplan Panesh, deputy chair of the Duma’s budget committee, described that exception as a way to circumvent sanctions.
Banks and exchange groups prepare for the new system
The planned restrictions coincide with the expansion of Russia’s regulated crypto infrastructure. Sberbank, the country’s largest lender, joined the Bank of Russia’s register of crypto exchange organizations on October 12 and plans to introduce its first crypto products on December 1, according to Interfax. VTB and T-Invest Lab are also listed in the register.
The rules will affect banking activity as well. From July 1, 2027, Russian banks will have to reject attempts by clients to fund crypto wallets on foreign platforms and will not be able to accept rubles withdrawn from those platforms, Andrei Tugarin, managing partner at GMT Legal, told Kommersant FM.
The result is a shift away from informal person-to-person access and toward domestic, registered intermediaries. For users, the key practical change is that a familiar method of exchanging rubles for crypto directly with another individual will no longer be legal after the transition period.
Market picture
Moneyiar market data at 9:24 p.m. local time on October 15, 2026, showed Bitcoin at $82,209.00, up 0.61% over 24 hours and 0.68% over seven days.
Other tracked digital assets were mixed:
- SOON: $0.3053274062, up 1.75% in 24 hours and down 6.58% over seven days.
- Comedian (BAN): $0.0533377212, up 0.76% in 24 hours and down 12.61% over seven days.
- Alchemy Pay (ACH): $0.0055944455, down 1.08% in 24 hours and up 1.86% over seven days.
The regulatory details and Sberbank’s planned product launch were reported by Decrypt and other outlets cited in the source material.
