Bank of Russia Bans Cryptocurrency Transfers to Private Self-Custody Wallets

The Bank of Russia has prohibited individuals from transferring digital assets, including Bitcoin, Ethereum, and XRP, from regulated accounts to non-custodial self-custody wallets. Under Federal Law No. 282-FZ, enacted on September 1, 2026, transactions and custody are restricted to licensed intermediaries, effectively ending private wallet withdrawals and curbing decentralized finance outflows. In tandem, Sberbank received authorization to provide cryptocurrency exchange services. The framework retains a 300,000 ruble annual cap on retail purchases, upholds a ban on domestic merchant payments, and requires peer-to-peer trading to transition to licensed entities by July 1, 2027.