A ban with a lead time of nearly two years has effectively put Russians’ self-custody wallets on probation. The Central Bank of Russia has made clear that, starting July 1, 2027, residents will no longer be allowed to trade crypto assets through self-custody wallets or transfer assets from licensed brokers to self-custody wallets. Anyone wishing to trade will have to use a licensed broker or exchange. So far, only 13 institutions nationwide have been authorized, including VTB Bank and Sberbank.
A closer look at the terms reveals tighter restrictions than they might first appear. Transfers between licensed exchange accounts held by different individuals are prohibited. Even accounts belonging to the same person cannot withdraw assets from an exchange account to a self-custody wallet. This effectively cuts off the entire on-chain self-custody route, leaving assets to circulate only within the regulated system.
Ivan Chebeskov, deputy finance minister of Russia, put the figures at around 20 million Russians holding 3.7 trillion rubles’ worth of crypto assets—nearly $44 billion. Meanwhile, Sberbank Deputy Chairman Anatoly Popov estimates that only about 20% of trading volume will shift to licensed exchanges. What will happen to the rest is the policy’s most pressing question. For assets such as $BTC , whose basic mode of use is self-custody, on-chain liquidity in the Russian market will be reshaped.
The policy is still nearly two years from taking effect, and its implementation rules will be worth following closely.
#俄罗斯加密监管 #自托管钱包 #Regulation
A closer look at the terms reveals tighter restrictions than they might first appear. Transfers between licensed exchange accounts held by different individuals are prohibited. Even accounts belonging to the same person cannot withdraw assets from an exchange account to a self-custody wallet. This effectively cuts off the entire on-chain self-custody route, leaving assets to circulate only within the regulated system.
Ivan Chebeskov, deputy finance minister of Russia, put the figures at around 20 million Russians holding 3.7 trillion rubles’ worth of crypto assets—nearly $44 billion. Meanwhile, Sberbank Deputy Chairman Anatoly Popov estimates that only about 20% of trading volume will shift to licensed exchanges. What will happen to the rest is the policy’s most pressing question. For assets such as $BTC , whose basic mode of use is self-custody, on-chain liquidity in the Russian market will be reshaped.
The policy is still nearly two years from taking effect, and its implementation rules will be worth following closely.
#俄罗斯加密监管 #自托管钱包 #Regulation