Russian Central Bank Bans Withdrawals from Regulated Crypto Accounts to Self-Custody Wallets

On October 12, the Bank of Russia issued updated guidance clarifying that individuals are prohibited from withdrawing cryptocurrencies from regulated digital accounts to self-custody wallets they control. This restriction is grounded in Article 31(9) of Russia's new Crypto Market Law (Federal Law No. 282-FZ), which officially took effect on September 1, 2026. A "digital account" refers to a legal account used to record crypto assets, while a "digital custodian" denotes a registered entity responsible for registering and transferring such assets and providing access to wallet addresses. All withdrawal activities occurring within Russia's regulated custody framework fall under this limitation. For withdrawals from standard investment accounts, the rules apply to resident individuals, with no exemptions granted even for qualified investors. Under Article 31, individuals may transfer cryptocurrencies to authorized foreign custodians after completing prescribed testing and receiving risk disclosures.