Advertising of crypto services in Russia: a paradoxical transition period until 2027
The Russian crypto advertising market is entering an extremely unusual phase: starting September 1, 2026, the ban on promoting services related to organizing digital currency circulation will be partially lifted, but advertising of the crypto assets themselves will remain under a strict veto. This creates a unique legal collision that will last at least until mid-2027.
Let me remind you that Federal Law No. 221-FZ, in effect since August 2024, introduced a total ban on advertising not only digital currencies but also any goods, works, and services related to their circulation. The wording was so broad that even mining companies and exchangers fell under the restriction, which looked especially absurd against the backdrop of the state's simultaneous legalization of mining. Major advertising platforms, such as Yandex.Direct, quickly tightened their rules, although the market itself, judging by public listings in Moscow City, continued to operate bypassing the restrictions.
New reality: advertising of services is allowed, advertising of currencies is not
The situation changes dramatically with the adoption of a package of laws dated August 4, 2026 (No. 282-FZ and No. 283-FZ), which have been officially published and take effect on September 1. Now a legal framework has been created for the regulated organization of cryptocurrency circulation, which automatically lifts the ban on advertising such services. However, a key nuance remains: advertising specific coins — Bitcoin, Ethereum, USDT — is still prohibited. You cannot call for "buy USDT today" or promote one cryptocurrency as a more profitable alternative to another.
Instead, the new Article 29.2 of the Advertising Law creates a separate permitted model for promoting the services of legal circulation participants. But here lies the main paradox: the new advertising rules apply only to participants in the Central Bank registry, which the regulator itself has not yet formed. The full regime, under which the organization of circulation will be permitted exclusively for companies in the registry, will only take effect on July 1, 2027.
Thus, the market enters a strange transitional period: the law is already in force, the infrastructure is only being created, and exchangers not included in the registry can formally operate under the old rules, but the new advertising relaxations do not apply to them. The Bank of Russia has published only draft bylaws, which indicates a clear regulatory inconsistency.
My analysis: This situation is a classic example of a "regulatory lag," where legislation outpaces practice. For bona fide market participants, this is a window of opportunity, but also a zone of high uncertainty. Those who can be the first to obtain status in the Central Bank registry will gain an exclusive right to legal advertising, which will become a serious competitive advantage. However, until July 2027, the market will live under double standards, where official rules and real practice will diverge significantly.