Russia to Ban Personal P2P Crypto Transactions Starting in 2027

The Central Bank of Russia announced in updated regulatory guidelines that arrangements for individuals to conduct peer-to-peer transactions in crypto assets will continue until July 1, 2027. After this date, such transactions must be conducted through authorized intermediaries. Additionally, individuals will not be allowed to transfer crypto assets from digital accounts to self-custody wallets. Russia is expanding its regulated crypto market, with its largest bank, Sberbank, having been authorized to provide crypto asset trading services and to act as a digital asset custodian. The new regulatory rules for crypto assets came into effect on September 1, bringing trading operators and custodians under regulation; the country still prohibits the use of cryptocurrencies for payment of goods and services.