The Central Bank of Russia prohibits withdrawing funds from regulated cryptocurrency accounts to self-custody wallets

On October 12, the Central Bank of Russia clarified in its updated guidelines that individuals are not allowed to withdraw cryptocurrency from regulated digital accounts to self-custodied wallets. The Central Bank stated that this restriction is based on Article 31(9) of the new Russian cryptocurrency market law (Federal Law No. 282-FZ), which will take effect on September 1, 2026. Digital accounts are statutory accounts used to record crypto assets, and digital custodians are registered institutions that register and transfer these assets and provide access to wallet addresses.

This restriction applies to the withdrawal of funds under the regulated custodial system in Russia. For withdrawals from ordinary investment accounts, the rules cover resident individuals and do not provide exemptions for qualified investors. According to Article 31, individuals who pass the required tests and receive risk disclosures can transfer cryptocurrency to wallets managed by legally authorized foreign custodians, which is different from withdrawing to personal wallets outside of institutional custody. The law also sets exceptions for foreign trade settlements and mining.

The Central Bank also stated that transfers between individuals using addresses managed by digital custodians are not allowed, including transfers generated from transactions between individuals. The aforementioned provisions belong to the general cryptocurrency market law and are not rules applicable only to participants in experimental projects. The Central Bank indicated that direct peer-to-peer transactions between individuals are only permitted until July 1, 2027, when Article 30(1) will take effect; thereafter, residents who are not authorized as intermediaries in the cryptocurrency market must complete transactions through or with the participation of authorized intermediaries, with optional channels including licensed brokers and operators of cryptocurrency exchanges listed in the Central Bank of Russia's registry.