Russia News: The Bank of Russia has confirmed that peer-to-peer crypto transactions between individuals will be allowed only until 1 July 2027, closing the last unregulated channel under the country’s new digital currency law. Its guidance, published in mid-October 2026, comes as Sberbank, VTB and about ten other firms join the regulator’s first crypto registers.
Key facts
- Federal Law No. 282-FZ on digital currencies and digital rights took effect on 1 September 2026 after the State Duma passed it in July and President Vladimir Putin signed it.
- The Bank of Russia’s online Q&A says direct trades between individuals are possible “only until 01.07.2027”; after that date they drop off the list of permitted operations.
- Non-qualified retail investors may buy only bitcoin, ether and USDT, capped at RUB 300,000 a year per intermediary (about USD 3,690, per The Moscow Times).
- Crypto payments for goods and services inside Russia remain banned, while cross-border trade settlements in crypto are permitted.
What changes for peer-to-peer crypto users?
Under the regime, Russians may buy and sell crypto only through intermediaries supervised by the central bank: exchanges, brokers, asset managers and digital depositories. The regulator’s Q&A, cited by The Moscow Times and The Crypto Times on 15 October, ties the deadline to Part 1 of Article 30 of Law 282-FZ. TASS, as quoted by Cryptopolitan, carried the bank’s wording that transfers of digital currency between individuals “are not permitted” under the law and pointed to Part 5 of Article 31. The two references differ, but the practical message is the same.
TASS also reported the bank as saying individuals may not send crypto to non-custodial wallets. That point matters more than it first appears. Self-custody is how many Russian holders keep coins today.
The Moscow Times noted media reports that some users may try to present direct sales as gifts or debt repayments. Enforcement will decide whether the rule bites. A ban on paper is easy; tracing wallet-to-wallet transfers across the world’s largest country is not.
Who is on the Bank of Russia’s crypto registers?
Applications opened on 5 October 2026, and some established financial firms could register by notification within a day, according to Unchained’s report on Yahoo Finance, which draws on Interfax and Bank of Russia decision pages. Counts vary by source: RBC put the number of authorised entities at 11, while The Moscow Times reported 12.
| Date (2026) | Register | Entries reported |
|---|---|---|
| 6 October | Digital depositories | Five firms, including Sberbank, VTB and Atomyze |
| 6 October | Crypto exchange operators | VTB, T-Invest Lab, Zefir, Sistema-Crypto |
| 8 October | Crypto exchange operators | Professional Bank, RNKO Finpilot |
| 9 October | Crypto exchange operators | Moy Bitkoin, Khlynov Bank |
| 12 October | Both registers | Sberbank and Paradise Technology as exchange operators; TT LLC as a depository |
Sberbank said the new status “will allow the bank to provide services related to organizing the circulation of digital currency,” Interfax reported. Sberbank, VTB and Atomyze are subject to Western sanctions, a detail that will shape which foreign counterparties can deal with them.
Business timeline: from banks to the Moscow Exchange
The commercial rollout is concentrated in the year’s final weeks. VTB expects to offer retail crypto trading through its VTB My Investments app in November and to launch its own exchange in December, Unchained reported. Sberbank plans its first crypto products on 1 December. The Moscow Exchange intends to start crypto trading on 1 December 2026 and is testing the service with professional traders, TASS reported on 8 October, quoting senior managing director Boris Blokhin.
Deadlines for full compliance are reported differently. The Bank of Russia told registered firms they have until 1 September 2027 to meet every requirement, per TokenPost and Unchained. The Moscow Times and The Crypto Times cite 1 July 2027 as the date by which exchanges and depositories need their licences.
Why it matters beyond Russia
The design is deliberate. Domestic payments stay in rubles or the digital ruble, retail speculation is capped, and crypto’s legal role is pushed toward cross-border settlement, where Russian exporters and importers have struggled with banking restrictions. Large state-linked lenders sit at the centre of the new market. For trading partners in BRICS, the practical question is which licensed intermediary will handle settlement, and under what reporting rules. Moscow has floated other parallel trade channels before, including a BRICS-led grain exchange, and the bloc has tested a BRICS Pay demo.
This article reports regulatory facts and does not constitute investment advice.
FAQ
When does the peer-to-peer crypto ban start in Russia?
The Bank of Russia says direct transactions between individuals are allowed only until 1 July 2027. After that date they are no longer among the permitted operations under Law 282-FZ.
Which cryptocurrencies can Russian retail investors buy?
Non-qualified investors can buy only bitcoin, ether and USDT, up to RUB 300,000 a year per intermediary. Qualified investors have no ceiling.
Can Russian companies use crypto for foreign trade?
Yes. The law bans crypto payments for goods and services inside Russia but permits cross-border settlements.
Sources: Bank of Russia Q&A; The Moscow Times; The Crypto Times; Cryptopolitan; Unchained via Yahoo Finance; TokenPost; TASS.
