Russia's P2P Ban Update: Sberbank Gains Crypto Exchange License
Russia plans to implement a ban on direct peer-to-peer crypto trades starting July 1, 2027.
Update (Oct 15, 14:55 UTC): Sberbank secured approval on Oct. 12 to provide cryptocurrency exchange services and plans to launch Bitcoin, Ether and USDT products on Dec. 1. VTB Bank also registered as a crypto exchange and will offer trading via its investment platform in November, followed by its own exchange in December. Non‑qualified investors may buy up to 300,000 rubles of eligible crypto per year, while qualified investors face no limit.
Russia plans to end direct peer-to-peer cryptocurrency trading starting July 1, 2027, according to Cointelegraph. The proposed measure forms part of the country's broader regulatory framework overseeing digital assets.
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Regulatory Restrictions
Alongside the upcoming P2P trading ban, the Russian central bank already enforces rules prohibiting individuals from transferring cryptocurrency assets into their own self-custody wallets.
Key Facts
- Russia plans to ban direct peer-to-peer crypto trades starting July 1, 2027.
- Separate rules from the central bank already prohibit transfers from digital accounts to self-custody wallets.
Source: cointelegraph.com
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