WHAT HAPPENED
The Central Bank of Russia has confirmed that peer-to-peer Bitcoin trading will be prohibited starting July 1, 2027. Until this date, individuals in Russia can continue to buy and sell cryptocurrencies directly with one another. Post-deadline, all transactions must be conducted through brokers or exchanges that have received approval from the Bank of Russia.
WHY IT MATTERS
This regulatory shift aims to bring more oversight to the cryptocurrency market in Russia, potentially reducing risks associated with unregulated trading. By requiring trades to go through approved entities, the government seeks to enhance consumer protection and combat illicit activities linked to digital assets.
