Bank of Russia Bans Transfers From Regulated Crypto Accounts to Self-Custody Wallets

ChainCatcher reported that the Bank of Russia, in updated guidance dated October 12, explicitly bars individuals from withdrawing cryptocurrency from regulated digital accounts to self-custodied wallets they personally control. The central bank said the restriction is based on Article 31(9) of the new Federal Law No. 282FZ on the Cryptocurrency Market, which took effect on September 1, 2026. Digital accounts are legally recognized accounts used to record cryptocurrency assets. Digital custodians are registered entities that register and transfer these assets and provide access to wallet addresses. The ban applies to withdrawals within the Russian regulated custodial system. For withdrawals from ordinary investment accounts, the rule covers resident individuals and offers no exemption for qualified investors. Under Article 31, individuals who pass the required assessment and receive risk disclosures may transfer cryptocurrency to wallets managed by legally authorized foreign custodians. That differs from transfers to personal wallets outside institutional custody. The law also provides separate exceptions for foreign trade settlements and mining. The central bank also said transfers between individuals using addresses managed by digital custodians are prohibited, including transfers resulting from peer-to-peer transactions. These provisions are part of the general cryptocurrency market law and are not limited to participants in experimental projects. Direct peer-to-peer transactions between individuals are permitted only until July 1, 2027, when Article 30(1) takes effect. After that, residents not authorized as intermediaries in the cryptocurrency market must conduct transactions through or with authorized intermediaries, such as licensed brokers or cryptocurrency exchange operators listed on the Bank of Russia registry.