According to a report on the Bank of Russia’s updated guidance, direct crypto transactions between individuals will be banned starting July 1, 2027, and transfers from regulated digital accounts to personal wallets will also be restricted.
In a report by Wu Blockchain, citing Cointelegraph, the Bank of Russia confirmed the timeline for direct crypto transactions between individuals. Under the rules, users will have to conduct these transactions only through authorized intermediaries starting July 1, 2027.
The change to peer-to-peer (P2P) transactions is that parties will no longer be able to transact directly without an authorized intermediary. The regulation requires these transactions to be conducted through authorized institutions.
Transfers to personal wallets also face restrictions
The reported guidance also states that sending crypto assets from regulated digital accounts to wallets under users’ own control is prohibited. Users who self-custody their assets manage the private keys that provide access to them in these personal wallets.
The restriction covers transfers from the specified digital accounts to personal wallets. While the P2P ban is explicitly set to take effect on July 1, 2027, no separate start date is specified for the provision on transfers to personal wallets.
Not investment advice.