Russia will prohibit direct peer-to-peer (P2P) cryptocurrency transactions between individuals from July 1 2027 requiring traders to use authorized intermediaries under a regulatory framework overseen by the central bank.

The Bank of Russia clarified the deadline in updated guidance saying direct transactions between individuals would no longer qualify as permitted cryptocurrency operations after that date. The restrictions form part of a broader effort to bring the country’s crypto market under formal supervision.

REGULATION | U.K Regulator Conducts Second Law Enforcement P2P Crypto Crackdown in 6 Months

The rules also restrict individuals from transferring cryptocurrency held in regulated digital…