Russia will bar individuals from transferring digital currencies to non-custodial wallets from July 2027, alongside a ban on direct peer-to-peer crypto transactions between individuals.

The restrictions are set out in Federal Law No. 282-FZ and cover both deposits and withdrawals involving the non-custodial system, where crypto is held directly by its owner rather than by a licensed service provider, according to guidance updated by the Bank of Russia on October 12.

The framework will also prohibit transfers between individuals through addresses administered by a digital depository.

Most crypto transactions by residents will have to go through authorized intermediaries, including licensed brokers and registered digital-currency exchange…