Advertising of crypto services in Russia: a paradoxical transition period until 2027
Starting September 1, 2026, a new procedure comes into effect in Russia that, for the first time in two years, permits advertising of services for organizing cryptocurrency circulation. However, as is often the case in domestic regulation, the devil is in the details: the ban on advertising digital currencies themselves remains fully in place. This creates a unique legal conflict, which I will analyze in detail.
Until recently, the answer to the question of advertising cryptocurrencies and related services was extremely simple: prohibited. Federal Law No. 221-FZ, effective since August 19, 2024, introduced a broad ban on promoting both the digital currency itself and goods, works, and services related to its circulation. The wording was so comprehensive that even offers to purchase USDT or exchange Bitcoin on favorable terms fell under the prohibition.
Moreover, this ban created a strange precedent. In August 2024, the state legalized mining, establishing clear requirements for miners. But at the same time, major advertising platforms, including Yandex.Direct, introduced bans on advertising mining, crypto exchanges, and blockchain services. A paradoxical situation emerged: the business is legalized, but loudly announcing itself is prohibited. The market, however, adapted — in Moscow City, for example, advertising for exchangers continues to exist through gray schemes, indicating the formality of many restrictions.
What changes from September 2026
Now the situation is changing. Laws No. 282-FZ and No. 283-FZ of 04.08.2026 have been adopted, creating a regulated framework for cryptocurrency circulation. The first law defines the legal regime and legitimate participants; the second introduces amendments to related acts, including the advertising law. From September 1, 2026, the ban on advertising cryptocurrency itself (BTC, ETH, USDT) remains, but advertising services for organizing circulation is now permitted.
However, there is a nuance that I consider key. The new advertising rules apply only to circulation participants from the Central Bank registry. The full regime, under which only registered entities will be able to organize circulation, will only take effect 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 yet opened.
Thus, the market enters an unusual transitional period. The new 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 these are only drafts. There is no legal vacuum — the law provides for transitional mechanisms, but the regulatory desynchronization is obvious.
My expert view: this is a situation typical of Russian regulation, where law outpaces practice. Market participants will receive a formal right to advertise, but they will only be able to derive real benefits after July 1, 2027, when the Central Bank registry becomes operational. Until then, we face a period of double standards, where some players will advertise legally while others remain in the shadows, intensifying competitive distortions.