Bank of Russia Confirms Peer-to-Peer Bitcoin and Crypto Trading Ban Starting July 2027

The Bank of Russia confirmed in updated October 12 guidance that direct peer-to-peer cryptocurrency trades between individuals will become illegal starting July 1, 2027, under Federal Law No. 282-FZ, which took effect September 1. From July 1, 2027, residents may only trade digital currencies through licensed brokers and registered Russian exchange organizations holding at least 15M rubles (about $179,000) in equity, while banks must block transfers to and from foreign crypto platforms, according to GMT Legal managing partner Andrei Tugarin. The central bank also barred individuals from transferring crypto from digital accounts to their own non-custodial wallets or sending assets to other people through licensed digital depository addresses. Non-qualified retail investors must pass a test and face an annual purchase limit of 300,000 rubles (about $3,600) restricted to Bitcoin, Ethereum, and USDT, whereas qualified investors have no cap. Russia's largest lender, Sberbank, joined the central bank's crypto exchange register on October 12 alongside VTB and T-Invest Lab and plans to launch its first crypto products on December 1, while the law continues to ban domestic crypto payments for goods and services even as it permits foreign trade settlements.