The Bank of Russia has exempted international cryptocurrency settlements from restrictions on self-custody wallets, according to First Deputy Governor Vladimir Chistyukhin. The exemption allows overseas payments while Russia implements stricter rules for domestic crypto transactions.
Chistyukhin confirmed on October 29 that non-custodial wallets—which allow owners to control their private keys without relying on an exchange or custodian—remain permitted for cross-border transactions. He made the announcement at a corporate governance forum organized by Moscow Exchange.
Domestic Transfers Follow Different Rules
Under the new framework, investors cannot transfer cryptocurrency directly from Russian regulated digital accounts to personal wallets. Instead, assets must move to a regulated foreign custodial platform, from which users may subsequently withdraw them to self-custody wallets.
These rules stem from Federal Law No. 282-FZ, which took effect on September 1 and introduced controls for licensed domestic crypto trading and custody services. Russia also limits ordinary retail investors to cryptocurrency purchases worth 300,000 rubles annually per intermediary, requiring eligibility checks before accessing approved assets.
Peer-to-Peer Transactions Extended Through 2027
Individuals may continue direct peer-to-peer crypto transactions until July 1, 2027, according to the Bank of Russia. After that date, residents must use authorized intermediaries for covered transactions. The rules do not prohibit ownership of cryptocurrency already held in personal wallets.
Expanded Exchange Supervision
On October 29, the Bank of Russia recognized the National Association of Securities Market Participants (NAUFOR) as a self-regulatory body for crypto exchanges and digital depositories. The central bank's registers list 23 exchange operators and eight depositories.
Registered firms must join a self-regulatory organization within 90 days. NAUFOR will develop standards, monitor compliance, and advise firms on meeting new obligations. Sberbank is among the registered digital depositories and plans to introduce crypto services in December, while Moscow Exchange has outlined plans for regulated cryptocurrency trading.
