Just now, the Bank of Russia set a “deadline” for self-custody wallets 🇷🇺
According to guidance updated by the Bank of Russia on October 15:
🔹 Starting July 1, 2027, residents will no longer be able to trade crypto assets directly with one another peer-to-peer (P2P). Transactions must go through authorized intermediaries.
🔹 Crypto assets held in regulated accounts cannot be transferred to self-custody wallets where individuals control the private keys.
🔹 Direct P2P trading will remain temporarily permitted until that date.
I think there are three things worth understanding here:
1️⃣ The rules cover transactions between residents and withdrawals—not the Bitcoin network itself. The blockchain will keep running as usual.
2️⃣ Self-custody wallets have no centralized operator, so the main points where authorities can exert control are on- and off-ramps and trading venues. How effectively the rules are enforced will depend on how they’re implemented.
3️⃣ The direction is clear: bring as much crypto trading as possible into licensed, identity-verified, traceable channels.
Interestingly, earlier this month, the CFTC in the US proposed a framework that points in exactly the opposite direction, tentatively treating “you hold the private keys” as the standard for actual delivery. Two major powers, two completely different answers on self-custody.
If one day you couldn’t withdraw your coins to your own wallet, would you still hold them?
#俄央行称2027年7月禁自托管钱包交易 #BTC #BNB
According to guidance updated by the Bank of Russia on October 15:
🔹 Starting July 1, 2027, residents will no longer be able to trade crypto assets directly with one another peer-to-peer (P2P). Transactions must go through authorized intermediaries.
🔹 Crypto assets held in regulated accounts cannot be transferred to self-custody wallets where individuals control the private keys.
🔹 Direct P2P trading will remain temporarily permitted until that date.
I think there are three things worth understanding here:
1️⃣ The rules cover transactions between residents and withdrawals—not the Bitcoin network itself. The blockchain will keep running as usual.
2️⃣ Self-custody wallets have no centralized operator, so the main points where authorities can exert control are on- and off-ramps and trading venues. How effectively the rules are enforced will depend on how they’re implemented.
3️⃣ The direction is clear: bring as much crypto trading as possible into licensed, identity-verified, traceable channels.
Interestingly, earlier this month, the CFTC in the US proposed a framework that points in exactly the opposite direction, tentatively treating “you hold the private keys” as the standard for actual delivery. Two major powers, two completely different answers on self-custody.
If one day you couldn’t withdraw your coins to your own wallet, would you still hold them?
#俄央行称2027年7月禁自托管钱包交易 #BTC #BNB