Russia’s Central Bank: Illegal Crypto Exchangers’ Grey Zone Should Vanish by July 2027

The significance here is less the deadline itself than the enforcement logic: Russia's central bank is signaling a shift from an ambiguous grey market to a binary white/black split, which matters for anyone who has treated crypto exchange as a lightly regulated activity in Russia. The July 2027 horizon gives the market a long runway to adapt, so the practical question is whether participants migrate toward regulated venues or stay offshore and accept black-segment penalties. Whether that division actually holds once the legislation takes effect is the open question.