Russia to Ban Direct Crypto Trading, Mandating State-Regulated Exchanges by 2027

Russia is moving to ban direct cryptocurrency trading, compelling citizens to use state-regulated exchanges by July 1, 2027. The Central Bank of Russia has clarified that Federal Law No. 282-FZ will not permit direct peer-to-peer (P2P) transactions between individuals after this date. Additionally, restrictions will apply to cryptocurrency transfers within Russia's regulated financial infrastructure, prohibiting transfers from regulated digital accounts to privately controlled cold wallets and limiting transfers between individuals using addresses administered by Russian digital depositories.