Crypto advertising in Russia: a paradoxical transition period and new rules of the game
The Russian crypto services market is entering an extremely unusual phase of its development. Starting September 1, 2026, new rules come into force that, for the first time in two years, will allow advertising of services for organizing digital currency circulation. However, as my analysis shows, this "carte blanche" has significant limitations that create a curious legal hybrid.
The logic of the 2024 ban
Let me remind you that since August 19, 2024, Federal Law No. 221-FZ introduced a total ban on advertising not only cryptocurrency itself but also any goods, works, and services related to its circulation. The wording was so broad that even advertisements for buying USDT at a "favorable rate" or "exchanging Bitcoin in 15 minutes" fell under the restrictions. From a legal standpoint, this was absolutely logical: at that time, Russia had no regulation of crypto exchange whatsoever, and the state effectively prohibited advertising something that had no legal status.
Interestingly, the ban gave rise to a host of paradoxes. For example, the state legalized mining, but the largest advertising platforms, such as Yandex.Direct, immediately banned its promotion. At the same time, advertising of mining equipment and cloud resources remained permitted. The market, as practice has shown, especially in Moscow City, continued to live its own life, ignoring formal prohibitions.
What changes in September
The situation changes dramatically with the adoption of Federal Laws No. 282-FZ and No. 283-FZ of 04.08.2026. The first creates a full-fledged regulated framework for organizing cryptocurrency circulation, while the second introduces amendments to related laws, including the Advertising Law. The key point: the ban on advertising digital currency itself as an asset remains in place. It is still prohibited to advertise Bitcoin, Ethereum, or USDT as an investment object or an "asset of the week."
However, advertising of services by legal market participants is now permitted. The state has created a legal regime in which exchange organizers gain the right to inform about their services. For this purpose, a new Article 29.2 of the Advertising Law is introduced, which defines a separate promotion model.
This is where the main paradox lies. The new advertising conditions will take effect as early as September 1, 2026, but they apply only to circulation participants from the Central Bank registry. At the same time, the registry itself is not yet open, and the full regime requiring work exclusively through it will only come into force on July 1, 2027. Until that date, exchangers can operate under the old rules, but the new advertising relaxations do not apply to them.
We are entering a unique transitional period when new rules already exist, while 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. This is not a complete legal vacuum, but it is an obvious regulatory desynchronization.
My expert conclusion: the market faces not just a transitional period, but a time of double standards and legal uncertainty. Legal players who are the first to enter the Central Bank registry will gain a significant competitive advantage in advertising. However, until mid-2027, we will observe a gray zone where old and new rules will coexist, creating risks for careless marketers.