Russia’s crypto regulations leave a route open for overseas payments even as domestic transfers face tighter controls. On October 29, the Bank of Russia confirmed that non-custodial wallets remain permitted for international settlements, while investors cannot send crypto directly from regulated Russian accounts to personal wallets.
Key takeaways
Self-custody wallets remain available for international settlements.
Ordinary retail purchases are capped at 300,000 rubles annually per intermediary.
Direct peer-to-peer transactions have a transition deadline of July 1, 2027.
Registered crypto firms face a 90-day self-regulatory membership requirement.
Cross-border crypto transfers retain a self-custody route
The international settlement exemption permits the use of wallets whose owners control their private keys without an exchange or custodian. First Deputy Governor Vladimir Chistyukhin confirmed the position at a corporate governance forum organized by Moscow Exchange.
“Use of non-custodial wallets is permitted for international settlements,” Chistyukhin told reporters on October 29.
He also described an indirect route from domestic regulated accounts to self-custody: investors can transfer assets to a regulated foreign custodial platform and then withdraw them to a personal wallet. Direct transfers from Russian regulated digital accounts to those wallets remain restricted.
Russia’s crypto regulations tighten domestic access
Federal Law No. 282-FZ , which took effect on September 1, introduced controls on licensed domestic cryptocurrency trading and custody services. The framework limits ordinary retail investors to purchases worth 300,000 rubles annually per intermediary .
Before gaining access to approved assets, retail investors are also required to clear eligibility checks, whereas qualified investors follow a distinct set of requirements.
The domestic transfer restrictions do not prohibit investors from owning cryptocurrency already held in personal wallets.
A deadline looms for peer-to-peer trading
According to the Bank of Russia , individuals may keep conducting direct peer-to-peer crypto transactions until July 1, 2027 . Once that date passes, residents will be required to route covered transactions through authorized intermediaries.
This transitional arrangement allows direct dealings to continue for the specified time frame, while establishing a cutoff for shifting covered activity to authorized services.
Market infrastructure grows as NAUFOR assumes oversight duties
On October 29, the Bank of Russia named the National Association of Securities Market Participants (NAUFOR) as the self-regulatory body overseeing crypto exchanges and digital depositories. According to the central bank ‘s records, there are 23 exchange operators and eight depositories listed.
Within 90 days of registration, firms are obligated to join a self-regulatory organization, and NAUFOR will be responsible for setting standards, overseeing compliance, and guiding firms toward fulfilling their obligations.
Moscow Exchange has announced plans to launch regulated cryptocurrency trading, while Sberbank, which is already registered as a digital depository, intends to roll out crypto services in December .
Article produced with the assistance of artificial intelligence and reviewed by the editorial team.
