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- October 17, 202613°
- BIST10011,722-2.89%
- USD49.45+0.05%
- EUR55.62+0.37%
- GOLD4,181.10+0.26%
- INTEREST37.00%-1.00
- BITCOIN81,400-0.12%
- October 17, 202613°
Russia will end peer-to-peer crypto trading in 2027
The Central Bank of Russia will remove direct cryptocurrency trading between individuals from the list of legal transactions starting July 1, 2027. Transactions will be conducted through regulated intermediaries, and individual investors will face an annual purchase limit of 300,000 rubles per intermediary.
The Central Bank of Russia will remove direct cryptocurrency trading between individuals from the scope of legal transactions as of July 1, 2027. Cryptocurrency transactions will therefore be conducted through regulated institutions.
Under the new system, exchanges, brokerage firms, asset managers and digital-asset custodians will be among the authorized intermediaries. Individuals will be required to use these state-supervised institutions for cryptocurrency trading.
300,000-ruble limit per intermediary
Individual investors will be limited to purchasing 300,000 rubles' worth of cryptocurrency through each authorized intermediary over a one-year period. The Central Bank has begun the process of creating an official registry of cryptocurrency entities authorized to conduct transactions.
The registry currently includes 12 entities, including the state-owned banks Sberbank and VTB. The deadline for cryptocurrency exchanges and digital-asset custodians to obtain the required licenses has been set for July 1, 2027.
Risk of disguising direct sales as other transactions
The regulation could be circumvented by presenting direct cryptocurrency sales as personal gifts or debt payments.
A law signed by Vladimir Putin in the summer bans payments in cryptocurrency within Russia. Cross-border payments are excluded from the scope of the law.
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