Russia Will Soon Ban Peer-to-Peer Bitcoin Trading, Central Bank Confirms

# Russia To End Peer-to-Peer Crypto Trading By Mid-2027 Amid Regulatory Shift

The Bank of Russia confirmed in an October 12 FAQ that direct crypto trades between individuals are legal only until July 1, 2027, citing new legislation.

• The regulator also states that individuals cannot move cryptocurrency from a digital account to their own non-custodial wallet—or transfer it to another person through addresses operated by a digital depository—that ends July 1, 2027 under the new law.
• Sberbank joined the central bank’s crypto exchange register on October 12 and intends to launch its first cryptocurrency products on December 1.

Russian citizens have just over eight months remaining to conduct peer‑to‑peer Bitcoin and other crypto transactions directly with one another. From July 1, 2027, peer‑to‑peer agreements—where two parties exchange rubles for coins without a regulated intermediary—will cease to be legal, the Bank of Russia confirmed this week.

The clarification appears in updated guidance the regulator published on its official website on October 12.

The legal foundation is Federal Law No. 282‑FZ, “On Digital Currencies and Digital Rights,” which President Vladimir Putin signed on August 4 and that became effective September 1. Article 30 enumerates the crypto operations residents may carry out without a licensed intermediary, and from July 2027 that list no longer includes trades between individuals.

After that date, residents may only trade cryptocurrency through, or directly with, companies that “organize the circulation” of digital currencies—principally brokers licensed by the Bank of Russia and crypto‑exchange organisations listed in its registry.

Lightning back to market reality: According to the central bank, only registered brokers and exchange operators may facilitate crypto purchases. Individuals cannot hold funds in non‑custodial wallets created by themselves or transfer tokens through addresses managed by a licensed depository—whether settlement between parties or otherwise is prohibited after July 1, 2027.

Further restrictions apply to lending: offering crypto loans is limited to brokers authorized as lenders, trustees, exchange bodies, and clearing houses. Previously, everyday participants could route funds to foreign exchanges and obtain stablecoins such as USDT in a simple ripple‑through transaction. Those paths are no longer permissible under the new framework.

Industry insiders note that the regulation specifically bans using blockchain assets for local commerce. Residents must still pay for goods and services with fiat, while cross‑border settlements may legally involve crypto. This carve‑out was highlighted by Duma deputy Kaplan Panesh as a deliberate measure to help evade external sanctions during legislative approval in April.

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