The Russian Federation is preparing for a radical change in the digital asset market after the country’s Central Bank officially confirmed a ban on direct cryptocurrency trading between ordinary citizens. Starting from July 1, 2027, so-called Peer-to-Peer (P2P) transactions will be permanently excluded from the list of permitted operations for individuals. According to the financial regulator’s clarifications, based on the provisions of Federal Law No. 282-FZ, the legal acquisition and disposal of cryptocurrency will be carried out only through strictly regulated and licensed intermediaries.
The new legal requirements mean that after the end of the transition period, Russian citizens will be able to buy and sell digital assets only through official crypto exchanges, brokers and authorized financial organizations. Every banking institution in the country will be legally obliged to block money transfers if there are suspicions of illegal cryptocurrency exchanges between private individuals. The restrictions also seriously affect the management of personal assets, as the transfer of cryptocurrency from accounts in Russian digital depositories to personal independent or so-called cold wallets is also classified as a prohibited operation.
The regulatory framework sets extremely high thresholds for market participants. Crypto exchanges that wish to continue their activities after July 1, 2027 must be registered as Russian legal entities with a minimum equity capital of 15 million rubles and officially entered in the special register of the Central Bank. For ordinary unqualified investors, the law provides for annual purchases of the most liquid assets through a single intermediary of up to 300,000 rubles, after mandatory financial literacy tests and risk assessment.
While the mere possession of cryptocurrency in personal wallets remains legal, sending assets outside of national depositories will be severely restricted. International transfers will be allowed only to pre-vetted foreign organizations, after mandatory risk disclosure procedures. Direct transfer of digital assets between individuals through addresses maintained by the Russian financial infrastructure becomes completely impossible.
The new measures put an end to the gray sector of cryptocurrency trading in the country, forcing investors to move entirely under the umbrella of state-controlled financial institutions. The lack of a license by exchanges or attempts to circumvent the new rules through informal channels will be treated as a violation of the law, which will lead to a rapid restructuring of the entire digital market in Russia.