Fines up to a million: how Russia will punish violations in crypto advertising
The Russian digital asset market is entering a new era of regulation, and the advertising sphere is becoming one of the most sensitive fronts. Companies now face fines ranging from 100,000 to 1 million rubles for violating rules on promoting crypto services. At the same time, supervisory functions are distributed among three key agencies: the FAS, Roskomnadzor, and the Bank of Russia. Let's examine how this system will work in practice and what market participants need to know to avoid falling under scrutiny.
The mechanics of penalties: from basic fines to harsh sanctions
Basic liability for improper advertising for legal entities, according to Part 1 of Article 14.3 of the Administrative Code, ranges from 100 to 500 thousand rubles. However, when it comes to mailings without recipients' consent, a separate, more severe offense comes into force with a maximum fine of up to 1 million rubles. This is a fundamental point: spam marketing in the crypto sphere will be punished in full severity.
A separate layer of liability is built around violations of advertising labeling and data transmission to the Unified Register of Internet Advertising. Here, Roskomnadzor acts as the chief supervisor, and fines for companies reach 500 thousand rubles. If the violator turns out to be a regulated exchanger or digital depository, oversight from the Central Bank is added on top, creating a double-pressure effect.
How violations are detected: a step-by-step scenario
The process of detecting violations most often begins with an external signal. For example, an exchanger places a large promo banner on its website: "USDT at the best rate. Exchange in two minutes. Buy now." A complaint may be filed by a user, competitor, or other party—or the FAS independently detects signs of a violation. For complaints about internet advertising, the antimonopoly authority recommends recording a full screenshot of the page, the site address, and the date of capture.
Next, the agency evaluates the materials and, if there are grounds, initiates a case on violation of advertising legislation. The review is conducted by an FAS commission. If the advertising is deemed improper, a decision is issued and, if necessary, an order to cease the violation or amend the advertising. It is important to note: the FAS does not need to go to court to impose a fine—the decision, order, and ruling are issued by the service itself. The company has the right to appeal them subsequently.
A new philosophy: from prohibition to institutionalization
Starting September 1, the very philosophy of regulating crypto market advertising changes. In 2024, the state first banned advertising of the effectively unregulated market. Now, in 2026, this market has begun to be institutionalized: legal organizers of circulation have emerged, along with the opportunity to advertise their activities. The formula is simple: cryptocurrency cannot be advertised, but crypto infrastructure and regulated services can.
This is one of the most practical changes in the new regulation. For the first time, the market gains the opportunity to legally inform clients: "we provide exchange services" or "we carry out digital accounting." However, the transition period adds uncertainty: the new rules are already in effect, but the Central Bank registry, which grants the right to use them in full, is only being formed. Until July 1, 2027, many existing exchangers remain outside the new advertising regime.
In the coming months, market participants will have to balance between the old operating model and new requirements. Caution in wording and completeness of mandatory disclosures become the main defense against regulator claims.
My expert view: this is a classic transition from a "gray" zone to a civilized market. Those who adapt their advertising strategies to the new rules in advance will gain a competitive advantage. The rest will have to learn from their own mistakes and fines.