Russia is preparing a total ban on cryptocurrency advertising: a new wave of regulation
Russian lawmakers intend to completely exclude advertising of digital currencies from the public space. As became known from a speech by the Chairman of the State Duma Committee on the Financial Market, Anatoly Aksakov, at the St. Petersburg International Legal Forum on June 24, a direct legislative norm is being prepared that will finally ban the promotion of cryptocurrencies. This measure will be part of a large-scale package of crypto regulation, the adoption of which, according to the Ministry of Finance, may be delayed relative to the initial target of July 1, 2026.
What changes compared to the 2024 regime?
Let me remind you that since August 19, 2024, a ban on advertising cryptocurrencies to an unlimited circle of people has already been in effect in Russia. At that time, paragraphs 13 and 14 were added to the law "On Advertising," which effectively legalized the established judicial practice. However, the old regime left loopholes: stablecoins pegged to fiat currencies and managed by the issuer did not fall under the definition of digital currency. The ban applied only to digital financial assets (DFAs) for a limited circle of purchasers. At the same time, educational content, materials on blockchain technology, utility rights, and NFTs were still allowed to be advertised. The fine for violation reached 500 thousand rubles for both the advertiser and the platform.
The new structure fundamentally changes the approach. The right to mention one's activities is now tied to a license. Only intermediaries, exchanges, brokers, and exchangers from the Central Bank register—the same entities that will need to undergo licensing under the main crypto bill—will be able to legally inform about themselves. However, advertising of the cryptocurrency itself as an asset remains under an absolute ban.
Part of the package for de-anonymizing the market
The advertising amendments are not separate but are linked to the tightening of user identification. The government's bill on cryptocurrency was adopted by the State Duma in the first reading on April 21. The specialized law "On Digital Currency and Digital Rights," about 500 pages long, may be adopted in July, but the timeline remains fluid. The Director of the Financial Policy Department of the Ministry of Finance, Alexei Yakovlev, said on the sidelines of the SPILF 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 has announced access for crypto depositories to the anti-money laundering platform "Know Your Customer," mandatory full user identification, control of transactions from 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.
The logic of the package is obvious: anonymous trading is simultaneously deprived of both a legal channel for operations and a legal channel for promotion. Permission to "say that 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, the social network X lifted the ban on paid promotion of cryptocurrencies that had been in effect since June 2024. Influencers received the right to legally monetize crypto content under the condition of marking it as "Paid Partnership," and responsibility for compliance with national rules, including FTC norms, fell on the author themselves.
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 conclusion: The Russian approach consistently implements a strategy of total control over the crypto market through licensing and de-anonymization. Advertising as a tool for attracting retail investors becomes impossible, which sharply narrows the entry channels for new participants. In my opinion, this creates prerequisites for a significant portion of activity to move into gray areas, despite all the regulator's efforts.