Russia to Ban P2P Transfers Starting July 1, 2027

The Bank of Russia plans to ban direct P2P transfers between individuals starting July 1, 2027. This measure aims to tighten control over fund flows in the digital economy.

New regulations will affect not only interpersonal transactions but also operations involving transfers of funds to one's own crypto wallets.

According to the regulator's statement, transactions between individuals will be permitted exclusively through intermediaries included in a special registry of the Bank of Russia. This means the use of licensed operators is required for any transfers.

Transfers to oneself on cold wallets will also be banned. The regulator views such operations as potential channels for moving assets out of control.

The introduction of new restrictions has caused widespread resonance among cryptocurrency users. The community of crypto investors will have to adapt to the requirements of using only verified intermediaries.

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