Russia to ban direct crypto trades from July 2027

Russia will prohibit direct cryptocurrency trades between individuals starting July 1, 2027, requiring residents to use authorized intermediaries under a framework overseen by the Bank of Russia. The central bank said the direct trades remain permitted until that date, when Federal Law No. 282-FZ takes effect for the ban. The law establishes a regulated route for cryptocurrency trading through approved organizations, including exchange operators and brokers. The rules do not prohibit cryptocurrency investing itself, but limit how individuals can transact and transfer assets. Domestic payments using cryptocurrency remain prohibited, while cryptocurrency may be used for foreign-trade settlements under the framework. Nonqualified investors face an annual purchase limit of 300,000 rubles per authorized intermediary for eligible assets. Qualified investors are not subject to that cap. The Bank of Russia has identified Bitcoin, Ether and USDT among assets that may be eligible for ordinary investors, subject to applicable rules. The central bank’s guidance also says individuals cannot transfer cryptocurrency from regulated digital accounts to personal noncustodial wallets.