Russia to phase out P2P crypto transaction in July 2027 as exchanges receive licenses
Russia’s central bank has said the country’s new digital currency law prohibits peer-to-peer crypto transactions and transfers to non-custodial wallets, while it has also authorized more than 10 organizations to operate as cryptocurrency exchanges, including Sberbank. Separate coverage says direct peer-to-peer crypto trades are planned to be banned from July 2027. [51220] [51458]
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People who use crypto in Russia, and the exchanges that have been licensed, are the most directly affected today. The central bank’s statement places peer-to-peer transfers and transfers to non-custodial wallets outside the permitted framework, while more than 10 organizations, including Sberbank, have been authorized to operate as exchanges.
In practice, direct peer-to-peer crypto trades are described as moving toward a ban from July 2027, while licensed exchange activity remains in place. What changes is the route available for transfers and trades; what stays in place is that exchange operations continue under licenses.
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