Russia's Central Bank has set July 1, 2027 as the deadline for ending peer-to-peer cryptocurrency transactions between residents. Starting that date, Russian citizens will only be permitted to transfer crypto assets through licensed brokers and exchanges.
The Central Bank cited Part 1 of Article 30 of Federal Law № 282-FZ in clarifying the new rules. According to the bank, 13 organizations are currently licensed as digital currency exchanges, including major institutions such as VTB Bank and Sberbank, along with smaller operators.
Restricted Transaction Types
The regulation prohibits several transaction categories. Direct peer-to-peer transfers between Russian residents remain legal only until the July 2027 deadline. Withdrawals from licensed exchange accounts to self-custody wallets will not be permitted, even when managed by the same individual. Transfers between accounts held by different individuals at licensed exchanges are also banned under Part 5 of Article 31 of Federal Law № 282-FZ.
Regulatory Goals
According to analysts, the restrictions aim to provide authorities with full visibility of cryptocurrency market activity and enable closer monitoring of fund movements. The rules are designed to curb tax evasion, as digital assets have been used to obscure money flows from regulatory oversight.
The regulatory framework does allow importers and exporters to settle cross-border transactions using approved digital assets, which enables some parties to navigate international sanctions. However, the Central Bank has prohibited cryptocurrency for domestic payments, instead promoting the digital ruble, its central bank digital currency that launched nationwide in September.
Expected Migration Rate
Migration to licensed exchanges is expected to occur gradually. Sberbank Deputy Chairman of the Executive Board Anatoly Popov estimated that only 20 percent of Russian trading volumes will shift to licensed exchanges, with further transitions anticipated in subsequent years.
