Russia Will Ban Direct Peer to Peer Crypto Trades From July 2027

Russians will soon lose the ability to swap crypto directly with one another, as the central bank moves to push all individual trading through approved intermediaries.

Russia P2P Crypto Ban Start Date

The Bank of Russia confirmed in guidance updated Monday that direct trades between individuals will stay legal only until July 1, 2027. After that, anyone who wants to exchange digital assets will need to go through an authorized intermediary. The regulator also made clear that individuals cannot move crypto from their digital accounts into their own self-custody wallets.

Sberbank Approval and New Crypto Rules

The tighter limits come as the country builds out a regulated market. On Monday, the central bank authorized Sberbank, the largest bank in Russia, to offer crypto exchange services, after it had already been approved as a digital asset custodian. New rules that took effect on Sept. 1 placed exchange operators and custodians under central bank supervision, while payments for goods and services in crypto remain prohibited.

Enforcement Doubts From Industry Leaders

Executives have previously told media that these limits may be hard to enforce. Jan3 CEO Samson Mow said P2P trading holds up better against crackdowns than centralized platforms do. SatoshiLabs executive Stepan Uherik said bans on wallet apps would leave hardware and desktop wallets untouched.