Russia Keeps Self-Custody Wallets Open for Global Crypto Trade, Not Domestic Cash

The Bank of Russia has confirmed that restrictions on self-custody cryptocurrency wallets will not apply to cross-border payments, allowing non-custodial wallets to remain available for international settlements.

First Deputy Governor Vladimir Chistyukhin said the exemption distinguishes foreign-trade payments from domestic transactions, which will operate under stricter rules for licensed intermediaries. Self-custody wallets allow users to retain control of their private keys without relying on exchanges or other custodians.

Russia will restrict domestic peer-to-peer cryptocurrency transactions from July 1, 2027, under its new regulatory framework. The central bank has introduced limits on some domestic transfers through self-custody wallets to support investor protection and prevent money laundering, but existing ownership of assets in personal wallets is not prohibited.

Russia’s Federal Law No. 282-FZ took effect on September 1, establishing a regulated framework for cryptocurrency trading and custody. The Bank of Russia also registered NAUFOR as a crypto industry oversight body responsible for supervising licensed exchanges and depositories.

Under the clarified rules, assets can be transferred between regulated foreign custodial platforms and Russian digital depositories. Users may then move those assets into their own wallets, although domestic transfers remain subject to separate limits.