Russia's central bank has confirmed plans to ban peer-to-peer Bitcoin trading within the country, according to Decrypt. The measure will take effect after a deadline of July 1, 2027, giving Russians roughly two and a half years to conduct direct crypto transactions before new restrictions apply.
Starting after the deadline, all cryptocurrency trades involving Russian participants must flow through brokers or exchanges that hold approval from the Bank of Russia. This requirement will eliminate direct person-to-person Bitcoin sales and purchases currently permitted in the country.
The policy represents a shift toward centralized oversight of crypto activity. Rather than allowing citizens to trade cryptocurrencies without intermediaries, the Russian central bank will require all transactions to pass through regulated financial institutions. This creates a recordable trail for each trade and gives authorities greater visibility into crypto market activity within Russia's borders.
The two-year runway until July 1, 2027 provides a transition period for Russians accustomed to peer-to-peer trading to adjust to the new regulatory framework. During this window, direct Bitcoin trades remain legal, but after the deadline passes, such transactions will violate the new rules.
Russia has pursued an inconsistent regulatory approach to cryptocurrency in recent years. The central bank previously expressed concerns about crypto risks while the country simultaneously used digital assets to circumvent international sanctions. This ban on peer-to-peer trading aligns with the central bank's broader goal of bringing all crypto activity under state supervision through licensed financial intermediaries.