Crypto news

The Russian digital assets market is entering an extremely ambiguous phase. Starting September 1, 2026, new rules come into force that, for the first time in two years, allow advertising of services related to organizing cryptocurrency circulation. However, this relaxation is narrowly targeted: the direct ban on advertising the digital currencies themselves remains in effect. This creates a unique legal conflict that will last at least until mid-2027.

Until recently, the answer to the question about advertising in this area was extremely simple — it was prohibited. Federal Law No. 221-FZ, in effect since August 2024, introduced a comprehensive ban on promoting not only cryptocurrency itself but also any goods, works, and services related to its circulation. The wording was so broad that almost all related activities fell under the ban — from exchangers to educational courses.

The logic of the 2024 ban and its consequences

That ban was legally consistent. At that time, Russia had no regulation whatsoever governing the organization of digital currency circulation. The state, in essence, prohibited advertising something that had no legal status. The example of mining is telling: in August 2024, the activity was officially legalized, creating a separate regulated regime. But at the same time, the largest advertising platforms, including Yandex.Direct, introduced a ban on promoting mining and related services. An absurd situation arose: the activity is permitted, but the market cannot be informed about it.

Notably, the market has not suffered too much over these two years. Public listings of exchangers still offer purchases and sales of USDT, BTC, and ETH, rate comparisons, and the selection of specific services. Market participants effectively operated as if the ban did not exist.

What changes in September 2026

Now the situation is transforming dramatically. Federal Laws No. 282-FZ and No. 283-FZ, published on August 4, 2026, create a full-fledged legal framework. The first law introduces regulated organization of cryptocurrency circulation and defines its legal participants. The second makes extensive amendments to related legislative acts, including the Advertising Law.

Key nuance: from September 1, 2026, the ban on advertising digital currency itself remains in force. It is prohibited to advertise Bitcoin, Ethereum, or USDT as an asset, promise growth of a specific coin, or urge choosing one cryptocurrency over another. However, advertising services for organizing circulation is now permitted. For this purpose, a separate Article 29.2 of the Advertising Law is created, defining the conditions and requirements for such promotion.

This is where it gets most interesting. The new advertising conditions apply only to circulation participants listed in the Central Bank's registry. The full regime, under which only registered participants will be able to engage in organizing circulation, activates only on July 1, 2027. Until that date, 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 Central Bank has not even opened yet.

Thus, the market enters a strange transitional period. The new rules already exist, but the admission infrastructure is only being launched. The Bank of Russia has published draft procedures for maintaining the registries, but full system launch is still far off. This is not a legal vacuum — the law provided transitional mechanisms — but the regulatory desynchronization is obvious.

My analysis: This situation creates serious risks for honest players. Formally, advertising of services is permitted, but only for those in the registry. And getting into the registry is currently impossible. This means that until July 2027, the market will operate in a gray zone where dishonest advertising can thrive, while legal participants find themselves at a disadvantage. I recommend that companies start preparing their legal groundwork for entering the registry now, so they are ready when it opens.