Russia’s central bank said in updated guidance that retail investors will only be able to conduct direct peer-to-peer crypto asset transactions until July 1, 2027. After that date, such trades must go through authorized intermediaries. The guidance also states that individuals are not allowed to move crypto assets from digital accounts to self-custody wallets.
The move comes as Russia expands its regulated crypto market. Sberbank, the country’s largest bank, has been cleared to offer crypto asset trading services after previously receiving approval to act as a digital asset custody institution. New crypto asset rules are set to take effect on Sept. 1 and will place trading operators and custodians under Bank of Russia supervision.
Russia still bans the use of cryptocurrencies to pay for goods and services. Jan3 CEO Samson Mow said P2P trading is more resilient to regulatory crackdowns than centralized platforms, according to Cointelegraph.
The Bank of Russia said in updated regulatory guidance that retail investors will be able to engage in direct peer-to-peer crypto asset transactions only until July 1, 2027. After that, those trades must be conducted through authorized intermediaries.
The central bank also made clear that individuals cannot transfer crypto assets from digital accounts to self-custody wallets.
Russia is widening its regulated crypto market. Sberbank, the country’s largest bank, has been approved to provide crypto asset trading services after previously being cleared to operate as a digital asset custody institution.
Russia’s new crypto asset rules will take effect on Sept. 1, bringing trading operators and custody institutions under Bank of Russia supervision. The country still prohibits the use of cryptocurrency to pay for goods and services.
Jan3 CEO Samson Mow said P2P trading is more resistant to regulatory crackdowns than centralized platforms, according to Cointelegraph.
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