Russia to Ban Direct Person-to-Person Crypto Trades in July 2027
However, media outlets have noted that individuals may attempt to bypass the ban by disguising direct crypto sales as personal gifts or debt repayments.
Russia plans to ban direct person-to-person cryptocurrency trades starting July 1, 2027, according to guidance from the nation's Central Bank. The regulator announced that peer-to-peer crypto transactions between individuals will be removed from the list of legal operations. Those looking to evade the ban may disguise direct sales as gifts or debt repayments.
To comply with a law signed by President Vladimir Putin, cryptocurrencies can only be bought and sold through state-regulated intermediaries such as exchanges, brokers, asset managers, and digital depositories. Retail investors will be limited to purchasing up to 300,000 rubles ($3,690) annually through each intermediary. The Central Bank has already started creating an official registry of authorized crypto operators, currently comprising 12 entities, including state lenders Sberbank and VTB.
The July 1, 2027, deadline also marks the requirement for cryptocurrency exchanges and digital depositories to obtain necessary licenses. The law prohibits cryptocurrency payments within Russia but does not restrict cross-border settlements.
Written by urgent.news from The Moscow Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 1 other outlet
- Russia to ban direct peer-to-peer crypto trades starting July 2027 cointelegraph.com
