Key Highlights
- Russia’s Central Bank confirmed that direct P2P cryptocurrency transactions between individuals will no longer be permitted from July 1, 2027, under the new framework.
- Individuals will have to conduct crypto transactions through authorized intermediaries, including regulated exchanges and brokers.
- Cryptocurrency payments for goods and services remain prohibited domestically, while cross-border crypto settlements are permitted under the regulatory framework.
Russian citizens will not be allowed to buy or sell cryptocurrency directly without state-regulated intermediaries starting next summer, according to official guidance from Russia’s Central Bank.
According to a local report, the Bank of Russia said direct cryptocurrency transactions between individuals would be permitted only until July 1, 2027. Media outlets that first reported the guidance noted that individuals may attempt to bypass the restriction by presenting direct crypto sales as personal gifts or debt repayments.
Details of the restriction
Under a law signed by President Vladimir Putin over the summer, cryptocurrencies may be bought and sold only through institutions regulated by the Central Bank. These intermediaries include exchanges, brokers, asset managers, and digital depositories.
Retail investors will be limited to purchases of 300,000 rubles, equivalent to approximately $3,690, per year through each intermediary. The Central Bank has begun building an official registry of authorized crypto operators. The registry currently includes 12 entities, among them the state lenders Sberbank and VTB.
The July 1, 2027 deadline also applies to cryptocurrency exchanges and digital depositories, which must obtain the required licenses by that date. The law prohibits cryptocurrency payments for goods and services inside Russia while permitting cross-border settlements.
Russia’s current cryptocurrency regulation took effect on September 1, 2026. The framework allows retail and qualified investors to trade eligible digital assets through regulated intermediaries.
It establishes rules for cryptocurrency trading, custody, and cross-border settlements and places exchanges, digital repositories, and other market participants under formal oversight. The legislation was approved by the State Duma in July.
Related market developments
Moscow Exchange, Russia’s largest stock exchange, plans to begin cryptocurrency trading on December 1, 2026. According to a report dated October 8, the exchange is testing the service with professional traders. Boris Blokhin, senior managing director for sales and business development at Moscow Exchange, confirmed the plan.
Sberbank, Russia’s largest bank, has outlined plans to develop lending secured by digital assets and, in the future, to accept Bitcoin, Ethereum, and the stablecoin Tether as collateral.
In an interview with TASS published on August 28, Anatoly Popov, deputy chairman of the bank’s management board, said the bank had prepared for the development and already held practical experience with cryptocurrency. He stated that once the relevant law comes into full force, Sberbank would adapt existing products and gradually expand their range.
The Central Bank guidance on the end of direct peer-to-peer transactions forms part of the broader regulatory structure that channels cryptocurrency activity through licensed intermediaries while maintaining restrictions on domestic payments.
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