Russia will ban direct P2P crypto trading for individuals starting July 2027.

On October 15, according to Cointelegraph, the Bank of Russia issued new guidelines confirming that direct peer-to-peer (P2P) cryptocurrency transactions between individuals will be banned starting July 1, 2027, at which point all such transactions must be conducted through authorized intermediaries. Additionally, individuals are prohibited from transferring cryptocurrency assets from digital accounts to self-custody wallets. Meanwhile, the Bank of Russia has approved the country's largest bank, Sberbank, to provide cryptocurrency exchange services, and will bring exchange operators and custody institutions under the central bank's regulatory framework starting September 1 this year. Russia currently continues to prohibit the use of cryptocurrency for payment for goods and services.