Russia to ban direct crypto trades between individuals from July 2027 — The Moscow Times

In the Russian Federation — an aggressor state — citizens will no longer be able to directly buy or sell cryptocurrency to one another starting July 1, 2027. Such transactions between individuals will be excluded from the list of legal ones, according to clarifications from the Central Bank of Russia.

As The Moscow Times reports, cryptocurrency purchases and sales will take place only through institutions regulated by the Russian central bank. These include exchanges, brokers, asset management companies and digital depositories.

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Limits for retail investors

The law, signed by Russian President Vladimir Putin in the summer, sets a limit for retail investors of 300,000 rubles, or $3,690, per year through each intermediary. The Central Bank of Russia is already compiling a register of authorized crypto operators, which currently includes 12 institutions, including the state credit organizations Sberbank and VTB.

Licensing of exchanges and depositories

By July 1, 2027, cryptocurrency exchanges and digital depositories must obtain the necessary licenses. The law also prohibits cryptocurrency settlements within Russia, but does not extend this ban to cross-border settlements. Media reports about the new restrictions noted that some individuals may try to circumvent them by disguising direct cryptocurrency sales as personal gifts or debt repayment.