New Cryptocurrency Circulation Rules in Russia

The Central Bank of the Russian Federation has published clarifications regarding the new rules for cryptocurrency circulation within the country. The regulator has established timeframes and restrictions for individuals, as well as operating conditions for regulated intermediaries.

P2P Transactions

Cryptocurrency purchases and sales directly between individuals are permitted only until July 1, 2027. After this date, such operations will be prohibited under the new regulation of the digital assets market.

Transfer Restrictions

Individuals are prohibited from transferring cryptocurrency from a digital account to their own non-custodial wallets, including hardware storage devices. Transfers of cryptocurrency between users within digital depositories are also banned.

Intermediary Operations and Assets

The law stipulates that transactions must be conducted only through regulated intermediaries, including licensed brokers and registered crypto exchanges. Brokers are prohibited from borrowing cryptocurrency from clients under loan agreements. Foreign stablecoins fall under Russian crypto-regulation regardless of their classification.

• The regulator allows for the launch of organized USDT trading following the entry into force of the relevant Central Bank directive.
• Cryptocurrencies and Digital Financial Assets (DFAs) are recognized as distinct categories of assets.