Bitcoin
Bank of Russia Clarifies Restrictions on Crypto Transfers to Self-Custodial Wallets
Russian regulatory guidance details prohibitions on moving digital assets into private non-custodial storage as part of wider financial monitoring rules.
The Bank of Russia issued updated regulatory guidance clarifying that transfers of digital currencies, including Bitcoin, Ethereum, and XRP, to non-custodial wallets are prohibited under Federal Law No. 282-FZ. The legislation, which took effect on September 1, mandates that domestic crypto transactions be executed exclusively through state-regulated intermediaries by July 1, 2027.
Under the central bank's interpretation, individuals are barred from transferring digital assets from institutional accounts to self-custody wallets where private keys are held locally, even if the destination wallet belongs to the same user. The framework seeks to dismantle transaction anonymity within the domestic financial system.
While domestic cryptocurrency payments remain prohibited, the broader statute aims to provide Russian exporters and businesses with structured mechanisms for cross-border settlements amidst sanctions imposed by Western governments. Concurrently, authorities are tightening domestic controls to prevent capital flight, unmonitored monetary outflows, and tax evasion.
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