Russia to Restrict Direct Crypto P2P Transactions From July 2027
Russia’s central bank has announced plans to restrict direct peer-to-peer crypto transactions for individual residents beginning July 1, 2027. Under the proposed framework, crypto transfers between individuals would need to be processed through compliant financial intermediaries.
The policy is intended to strengthen oversight of crypto activity, improve transaction monitoring, and align digital-asset transfers with local compliance requirements. It could make direct wallet-to-wallet P2P activity more regulated for Russian residents, while placing a greater role on approved institutions in facilitating crypto transactions.
China Highlights National Blockchain Network in Economic Blueprint
China’s leadership has identified the creation of a national blockchain network as one of 19 priority measures in its latest economic blueprint. The policy focus is on connecting digital infrastructure with the real economy, while signaling caution toward speculative excess and potential market bubbles.
For crypto markets, the announcement is a reminder that blockchain adoption by governments can center on infrastructure and enterprise use cases—not necessarily broader support for decentralized tokens or speculative trading.
U.S. Treasury Withdraws Proposed Crypto Monitoring Rule for Non-Custodial Wallets and CVC Mixing
The U.S. Treasury has withdrawn a proposed rule that would have expanded reporting and monitoring requirements for transactions involving non-custodial wallets and convertible virtual currency (CVC) mixing services.
The withdrawal reduces an immediate regulatory concern for privacy advocates and parts of the crypto industry, which had argued that the proposal could impose significant compliance burdens and affect how users interact with self-custodied assets. However, the move does not remove broader policy scrutiny around illicit-finance risks, sanctions compliance, and crypto-related transaction monitoring.