Russia to ban direct P2P crypto trades starting July 2027
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Russia plans to prohibit direct peer-to-peer cryptocurrency transactions between individuals starting July 1, 2027, and the trades would need to go through authorized intermediaries. The Bank of Russia also clarified limits on moving crypto assets from digital accounts to self-custody wallets.
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What it means
Users who move crypto between wallets or trade directly with each other are the group most immediately affected, because the rules point to a shift away from direct P2P trading and toward approved intermediaries. That affects how those transactions are carried out beginning in July 2027, and it also touches transfers from digital accounts to self-custody wallets.
What changes in practice is the route a trade can take: direct individual-to-individual P2P transactions are described as no longer being the permitted path, while intermediary-based trading is described as the new route. What remains in place is that crypto activity is still being discussed through formal banking and custody rules rather than a broad description of all crypto use.
Market reaction i
The move was larger before the first headline than after. That is an observation, not an explanation: the market also moves on things nobody publishes.
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