Advertising crypto services in Russia: a strange transition period and new rules of the game
Starting September 1, 2026, new rules come into force in Russia that, for the first time in two years, will allow advertising of services for organizing cryptocurrency circulation. However, the ban on advertising the digital currency itself remains in place. This creates a unique and, in my opinion, rather contradictory situation in the market, which I will analyze in detail.
Back in August 2024, Federal Law No. 221-FZ introduced a total ban on advertising cryptocurrencies, as well as related goods, works, and services. The wording was so broad that even miners, whose activities were legalized almost in the same period, fell under the restrictions. Major advertising platforms, such as Yandex.Direct, promptly updated their rules and blocked promotion of mining, exchangers, ICOs, and other related services. A paradox emerged: the state allowed the activity but prohibited informing the market about it.
What changes in September
Now the situation is changing dramatically. Federal Laws No. 282-FZ and No. 283-FZ dated 08/04/2026 have been adopted, creating a regulated framework for organizing cryptocurrency circulation. The first law defines the legal regime and legitimate participants, while the second introduces amendments to related legislative acts, including the Advertising Law. From September 1, 2026, the ban on advertising cryptocurrency itself remains: you cannot promise growth of a specific coin, urge people to buy USDT, or make BTC the "asset of the week." However, advertising of services for organizing circulation is now permitted.
Key nuance: the new advertising conditions apply only to participants in the Central Bank's registry. The full regime, under which only registered entities will be able to engage in organizing circulation, activates only on July 1, 2027. Until then, exchangers can operate under the old rules, but the new advertising relaxations do not apply to them — they are simply not in the registry, which the regulator itself has not yet opened.
The market enters an unusual transitional period: the rules already exist, but the infrastructure for their application is just being launched. The Bank of Russia has published draft procedures for maintaining registries, but this is not a complete legal vacuum — the law has provided transitional mechanisms. Nevertheless, the regulatory mismatch is obvious.
My analysis: This situation resembles a "gray zone" where legal players will gain an advantage only after the registry is launched, while others will continue to operate in the shadows. For the market, this means that until July 2027, advertising budgets will be allocated with extreme caution, and trust in the new rules will form slowly. Investors should closely monitor the emergence of the first licensed exchangers — they will become the benchmark in the new reality.