Russia Moves to Ban Direct Crypto Trading, Forcing Citizens Into State-Regulated Exchanges by 2027

Russia’s Central Bank plans to prohibit individuals from directly buying and selling cryptocurrency to each other starting July 1, 2027, according to The Moscow Times on October 15.

The Moscow Times reported that peer-to-peer (P2P) cryptocurrency transactions between individuals will remain permitted only until that date. Afterward, Russians will have to conduct such transactions through regulated intermediaries, including licensed brokers and registered cryptocurrency exchanges.

According to the outlet, the restrictions will also affect cryptocurrency transfers within Russia’s regulated financial infrastructure. The Central Bank will not permit transfers from regulated digital accounts to privately controlled cold wallets. Transfers between individuals using addresses administered by Russian digital depositories will also be subject to restrictions.

"Yes, but only until July 1, 2027," the Central Bank stated when asked whether individuals could continue trading cryptocurrency directly. The regulator clarified that Federal Law No. 282-FZ does not provide for direct P2P transactions between individuals after that date.

The Moscow Times noted that the restrictions are part of Russia’s broader overhaul of cryptocurrency regulation. The legislation, which largely took effect on September 1, 2026, establishes a regulated system of cryptocurrency brokers, exchanges, and digital depositories.

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The changes will bring cryptocurrency trading and custody increasingly under the supervision of Russia’s Central Bank, limiting individuals’ ability to conduct transactions without regulated intermediaries.

The tightening of control over cryptocurrency comes as Russians increasingly seek alternative channels to move money beyond the domestic financial system. Russian households transferred about $7.2 billion to foreign brokerage accounts between June and December 2024, exceeding the total for the previous seven years combined.

Roughly 40% of those transfers amounted to direct capital flight, with foreign brokers effectively replacing conventional foreign-currency bank accounts as Western sanctions and banking scrutiny intensified.

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