Russia is shutting down more than just P2P trades between individuals.
Starting July 1, 2027, individuals will no longer be legally allowed to exchange coins directly with one another. Trades must go through brokers or exchanges listed in the Bank of Russia’s register. The rules go a step further: individuals will not be allowed to withdraw coins from a digital account to their own self-custody wallet, or transfer them to someone else through the address of a digital custodian—even if it is just a settlement between two people.
So this isn’t “P2P is banned, but exchange trading continues as usual.” It also puts the act of “holding your own private keys” outside the legal framework.
Starting July 1, 2027, individuals will no longer be legally allowed to exchange coins directly with one another. Trades must go through brokers or exchanges listed in the Bank of Russia’s register. The rules go a step further: individuals will not be allowed to withdraw coins from a digital account to their own self-custody wallet, or transfer them to someone else through the address of a digital custodian—even if it is just a settlement between two people.
So this isn’t “P2P is banned, but exchange trading continues as usual.” It also puts the act of “holding your own private keys” outside the legal framework.