$BTC
Russia’s central bank lays down the law
Starting July 2027,
your crypto can only be kept somewhere the state can see it
Self-custody wallets are outright illegal
Holy crap
Guys
This move by Russia
has completely blown people’s minds
The Russian central bank has updated its crypto regulatory guidelines
and set a clear date
Starting July 1, 2027,
Russian residents will no longer be able to use self-custody wallets for crypto transactions
They’ll also be barred from withdrawing crypto from regulated accounts to personal self-custody wallets
Russia’s crypto market will have to shift entirely to institutional custody
If you want to hold your own private keys
and manage your own assets,
that option will be shut off in Russia
What does that mean?
The coins themselves are still the same
but whether you can transfer them yourself, who you can send them to, and what channels you can trade through
will all be restricted
And what’s even more ridiculous,
there’ll be limits on how much you can trade
For ordinary, non-qualified investors,
the annual limit for buying crypto assets through any one institution is 300,000 rubles
Qualified investors face no limit after passing a test
All transactions must go through licensed intermediaries
For the crypto world,
Russia is one of the biggest P2P crypto trading markets globally
Now that P2P is shrinking,
it could trigger market panic in the short term
Privacy coins and decentralized wallet projects could take a hit
Guys,
have you noticed
that countries everywhere are tightening regulations on self-custody wallets?
Exchanges are convenient,
and regulation does have its benefits,
but the whole point of self-custody
is to keep your assets in your own hands
I feel like this isn’t over yet
This is definitely something we’ll be debating again in the future
Guys,
let me ask you this:
If one day you couldn’t freely withdraw the coins you bought to your own wallet,
would you be okay with that?
Would you still buy crypto?
#俄央行称2027年7月禁自托管钱包交易
Russia’s central bank lays down the law
Starting July 2027,
your crypto can only be kept somewhere the state can see it
Self-custody wallets are outright illegal
Holy crap
Guys
This move by Russia
has completely blown people’s minds
The Russian central bank has updated its crypto regulatory guidelines
and set a clear date
Starting July 1, 2027,
Russian residents will no longer be able to use self-custody wallets for crypto transactions
They’ll also be barred from withdrawing crypto from regulated accounts to personal self-custody wallets
Russia’s crypto market will have to shift entirely to institutional custody
If you want to hold your own private keys
and manage your own assets,
that option will be shut off in Russia
What does that mean?
The coins themselves are still the same
but whether you can transfer them yourself, who you can send them to, and what channels you can trade through
will all be restricted
And what’s even more ridiculous,
there’ll be limits on how much you can trade
For ordinary, non-qualified investors,
the annual limit for buying crypto assets through any one institution is 300,000 rubles
Qualified investors face no limit after passing a test
All transactions must go through licensed intermediaries
For the crypto world,
Russia is one of the biggest P2P crypto trading markets globally
Now that P2P is shrinking,
it could trigger market panic in the short term
Privacy coins and decentralized wallet projects could take a hit
Guys,
have you noticed
that countries everywhere are tightening regulations on self-custody wallets?
Exchanges are convenient,
and regulation does have its benefits,
but the whole point of self-custody
is to keep your assets in your own hands
I feel like this isn’t over yet
This is definitely something we’ll be debating again in the future
Guys,
let me ask you this:
If one day you couldn’t freely withdraw the coins you bought to your own wallet,
would you be okay with that?
Would you still buy crypto?
#俄央行称2027年7月禁自托管钱包交易