Crypto news

Russian authorities are preparing a complete and final ban on cryptocurrency advertising. This became known from a statement by Anatoly Aksakov, Chairman of the State Duma Committee on the Financial Market, made on June 24 at the St. Petersburg International Legal Forum. The new norm will be part of a crypto regulation package, the adoption of which, according to the Ministry of Finance, is expected with a slight delay relative to the initial target date of July 1, 2026.

What changes compared to the 2024 regime?

The ban on advertising digital currencies in Russia has been in effect since August 19, 2024, when paragraphs 13 and 14 were added to Article 7 of the Law "On Advertising." They prohibited offering cryptocurrency to an unlimited circle of people but left noticeable gaps. Stablecoins pegged to fiat currency exchange rates did not fall under the definition of "digital currency," and the ban applied only to digital financial assets (DFAs) for a limited circle of purchasers. Educational content, materials on blockchain technology, utility rights, and NFTs were still allowed to be advertised. The fine for violation reached 500,000 rubles for the advertiser and the platform.

The new structure is fundamentally different. The right to mention one's activities is tied to a license. Only intermediaries, exchanges, brokers, and exchangers from the Central Bank register—the same entities that will undergo licensing under the main crypto bill—will be able to legally advertise themselves. However, advertising the cryptocurrency itself as an asset remains prohibited.

Part of the package for de-anonymizing the market

The advertising amendments are not separate but come alongside stricter user identification. The government's bill on cryptocurrency was adopted by the State Duma in the first reading on April 21. According to Aksakov, the specialized law "On Digital Currency and Digital Rights," which is about 500 pages long, could be adopted in July, but the timeline is still uncertain. Alexei Yakovlev, Director of the Financial Policy Department at the Ministry of Finance, said on the sidelines of the SPIEF that the document is generally ready and will go to the second reading after the State Duma committee, but it is unlikely to be adopted before July 1.

In parallel, Rosfinmonitoring announced access for crypto depositories to the anti-money laundering platform "Know Your Customer," mandatory full user identification, control of transactions over 1 million rubles, and a travel rule standard according to FATF rules. From July 1, 2026, if the law is adopted, citizens and companies will be able to legally buy cryptocurrency only through licensed intermediaries.

For clarity, the new limits and available assets for investors are presented below:

The logic of the package: anonymous trading is simultaneously deprived of both a legal channel for operations and a legal channel for promotion. The permission to "say you work in the market" under total identification ceases to be a way to attract retail clients and turns into a corporate signal of having a license.

The West is moving in the opposite direction

The Russian course contrasts with the Western trend. For example, in March 2026, social network X lifted the ban on paid promotion of cryptocurrencies, which had been in effect since June 2024. Influencers gained the right to legally monetize crypto content, provided it is labeled as "Paid Partnership," with responsibility for compliance with national rules, including FTC norms, falling on the author themselves.

X's reversal is not unconditional: the ban was lifted specifically for paid partnerships, while restrictions for certain categories in the X Ads service remain. Essentially, the Western platform changed its control model—moving from direct blocking to disclosure of paid relationships and self-regulation.

This results in two regulatory philosophies. The West makes cryptocurrency advertising legal under the condition of transparency, shifting control to disclosure. Russia bans it outright and guarantees the legality of merely mentioning it through the Central Bank register.

Analytical commentary from Cryptalist: It is obvious that the Russian approach is not so much about fighting fraud as it is about complete de-anonymization of the market. Advertising as a tool for attracting retail investors becomes impossible, which sharply narrows the potential audience. In my opinion, this will lead to a significant portion of the market moving into the gray zone, where control will be practically impossible. The Western path of disclosure and self-regulation seems more pragmatic, but it is not without risks.