According to CoinMeta, Russia will end direct peer-to-peer (P2P) cryptocurrency transactions between individuals on July 1, 2027, promoting the shift of such transactions to financial institutions regulated by the Russian Central Bank. This deadline is confirmed in the updated regulatory guidelines issued by the central bank, with relevant laws coming into effect in September 2026. Under the new framework, individuals will generally need to use authorized intermediaries to buy and sell cryptocurrencies after the transition period ends. According to the new regulations, individuals are not allowed to directly transfer cryptocurrencies from their regulated digital accounts to their own non-hosted wallets. While this restriction does not constitute a complete ban on holding private keys or using self-hosted wallets, it does limit certain transactions related to the regulated financial system. The legislation sets different conditions for retail customers, qualified investors, and enterprises engaged in international trade.