Russian crypto advertising market: new fines up to 1 million rubles and triple oversight
Russian companies working with digital assets have faced stricter rules in the advertising arena. Recently, violating legislation on promoting crypto services now carries serious financial penalties—ranging from 100,000 to 1 million rubles. At the same time, oversight of compliance with the new standards is distributed across three key agencies: the Federal Antimonopoly Service (FAS), Roskomnadzor, and the Bank of Russia. Let's take a detailed look at how this system now works and what market participants should expect.
The Mechanics of Penalties: What Is Controlled and by Whom
The base fine for improper advertising for legal entities is set at 100,000 to 500,000 rubles—this is liability under Part 1 of Article 14.3 of the Administrative Code. However, for those engaged in spam mailings without recipients' consent, a separate, stricter offense is provided, with a maximum fine of up to 1 million rubles.
It is important to understand the division of powers. Roskomnadzor monitors compliance with internet advertising labeling requirements and the transfer of data to the Unified Register of Internet Advertising (ERIR)—here, fines also reach 500,000 rubles. If the violator turns out to be an organization supervised by the Central Bank, such as an exchange or a digital depository operator, then oversight from the Bank of Russia is also brought into the case.
How Violations Are Detected: From Signal to Ruling
The process is initiated either by a complaint from a user or competitor, or as a result of an independent FAS inspection. Notably, to file an appeal with the antimonopoly authority, it is sufficient to record a screenshot of the page with the advertisement, the site address, and the date. The agency then evaluates the materials, and if there are grounds, it initiates a case on violation of advertising legislation. The FAS commission issues a decision, and if the advertisement is deemed improper, an order is issued to cease it. This is followed by administrative proceedings and a ruling on the fine—for this, the FAS does not need to go to court, making the process more efficient. However, the company always retains the right to appeal the decision in court.
This sequence confirms that in most cases, the signal comes from outside or during a scheduled inspection. The key piece of evidence becomes the recorded advertising material itself with specific wording.
A New Regulatory Philosophy: From Prohibition to Institutionalization
Starting September 2025, the very approach to advertising in the crypto sphere is changing dramatically. While in 2024 the state effectively banned advertising of the unregulated market, now, with the emergence of legal organizers of digital asset circulation, a window of opportunity is opening. The formula is simple: you cannot advertise cryptocurrency as a product, but you can advertise infrastructure and regulated services.
This is one of the most practical innovations. Market participants finally gain the right to legally state: "we provide exchange services" or "we carry out digital accounting." However, the transition period introduces its own uncertainty: the Central Bank register, which grants the right to fully use these opportunities, is only being formed. Until July 1, 2027, many existing exchanges remain outside the new advertising regime.
My expert view: In the coming months, we will witness a delicate game between old business models and new requirements. The key survival strategy will be not just caution in wording, but full compliance with all mandatory disclosures. Those who can quickly adapt to the new reality and build transparent communications will gain a significant competitive advantage over those who continue to operate by the old rules.