Russian citizens will not be allowed to buy or sell cryptocurrency directly without state-regulated intermediaries starting next summer, according to official guidance from Russia’s Central Bank.
The regulator wrote in an FAQ that peer-to-peer crypto transactions between individual buyers and sellers will be removed from the list of legal operations after July 1, 2027.
Media outlets that first reported on the looming ban noted that individuals may attempt to bypass it by disguising direct crypto sales as personal gifts or debt repayments.
Under a law President Vladimir Putin signed over the summer, cryptocurrencies may be bought and sold only through institutions regulated by the Central Bank.
These intermediaries include exchanges, brokers, asset managers and digital depositories.
Retail investors will be limited to purchases of 300,000 rubles ($3,690) a year through each intermediary.
The Central Bank has already begun building an official registry of authorized crypto operators, which currently includes 12 entities like the state lenders Sberbank and VTB.
The July 1, 2027, deadline is also set for cryptocurrency exchanges and digital depositories to obtain the required licenses.
The law prohibits cryptocurrency payments inside Russia but not cross-border settlements.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
