Russia will remove direct cryptocurrency trading between individuals from its legal market on July 1, 2027, requiring buyers and sellers to use authorized intermediaries such as licensed brokers and registered exchanges.
The Bank of Russia has also clarified that individuals cannot transfer cryptocurrency from regulated digital accounts to their own noncustodial wallets, where users control the private keys. The restrictions target specified transaction and withdrawal routes rather than banning ownership of personal wallets outright.
The measures form part of a framework that took effect on Sept. 1, 2026, placing crypto trading, custody and investor access under central-bank supervision. Non-qualified investors must pass an assessment and may purchase eligible cryptocurrencies for up to 300,000 rubles a year through each intermediary, while qualified investors face testing but not the same annual purchase ceiling.
Exporters and importers may use cryptocurrency in cross-border settlements under the regulated framework, and Russian residents can transfer cryptocurrency abroad through approved intermediaries and must report holdings recorded overseas to tax authorities.
The transition is unfolding alongside the creation of a regulated market. Sberbank received approval to provide exchange services after joining the digital-depository register and plans to launch initial products on Dec. 1 through existing customer platforms. Moscow Exchange has also said it plans to enable cryptocurrency transactions on the same date, using a partner digital depository for settlement accounts.
Registered firms must comply with transaction and recordkeeping rules when they enter the official registers, while institutions admitted under transitional provisions have until Sept. 1, 2027, to meet remaining requirements. The July 2027 deadline therefore marks the point when direct person-to-person trading must give way to the state-supervised structure, while the separate limits on transfers to self-custody wallets are already in force.