Russia to Ban P2P Cryptocurrency Transactions Starting 2027

From July 1, 2027, Russia will ban the direct purchase of cryptocurrency from other individuals. This marks the end of the era for classic P2P exchange without regulatory oversight.

All transactions between citizens must now be conducted through intermediaries included in a special registry of the Bank of Russia. Familiar exchange schemes will come under strict prohibition.

The transition period will last until summer 2027. Separate exceptions are provided for international settlements in foreign trade transactions.

• Direct purchase of crypto from individuals is prohibited
• Mandatory participation of intermediaries from the Central Bank registry
• Exceptions for external trade operations
• Ban on transfers to cold wallets

Cryptocurrency itself is not banned from circulation, but the rules for its acquisition and sale become significantly stricter. A ban has also been introduced on transferring digital assets to personal cold wallets.