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AI summary of a third-party reportBearishNewsDesk

Bank of Russia says P2P crypto transfers end on 1 July 2027

The Bank of Russia has set 1 July 2027 as the date when residents can no longer send crypto directly to each other or to self-custody wallets, leaving 13 licensed exchanges as the permitted route.

Why it matters: The rules would push Russian crypto activity onto 13 licensed venues and end self-custody transfers, changing how one of the world's larger retail markets can move digital assets.

InvestIn.News NewsDesk · 1 min read
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Picture from Bitcoin.com News for: Bank of Russia says P2P crypto transfers end on 1 July 2027
Image: Bitcoin.com News
Original reporting: Sergio Goschenko, Bitcoin.com News

Key points

  • The central bank lists 13 licensed digital currency exchanges, including VTB Bank and Sberbank.
  • Sberbank's Anatoly Popov expects only 20% of Russian trading volume to move to licensed exchanges.

The Bank of Russia has set a 1 July 2027 deadline for ending peer-to-peer crypto transfers, Bitcoin.com News reports. From that date, residents will no longer be able to send digital assets directly to one another or move funds from a licensed venue to a self-custody wallet.

Withdrawals to self-custody wallets are barred even when the same person controls both accounts, and transfers between licensed accounts held by different people are also prohibited under Part 5 of Article 31.

According to analysts cited in the report, the aim is full visibility of the market once funds sit on local exchanges, making it easier to watch movements and tackle tax evasion. The framework still lets importers and exporters settle in approved digital assets to work around international sanctions, while crypto is banned for domestic payments in favour of the digital ruble, which launched nationwide in September.

Deputy Finance Minister Ivan Chebeskov estimated that Russians hold 3.7 trillion rubles in crypto assets. Sberbank's Anatoly Popov expects only 20% of Russian trading volume to shift to licensed exchanges, with more migration in later years.

What to watch: The ban on P2P transfers and withdrawals to self-custody wallets is due to take effect on 1 July 2027.

Read the full story on Bitcoin.com News

Live updates on NewsFeeds:RegulationDesk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)

How this was produced: an AI model wrote this summary of Bitcoin.com News’s report, which we credit and link above. Read our Editorial and AI policy. Spotted a mistake? See Corrections.

Not investment advice. Read the risk disclaimer.

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