Fines up to a million and triple oversight: how Russia will punish violations in crypto advertising
The Russian digital asset market is entering a new era of regulation, and one of the most sensitive aspects is advertising. Starting in September 2025, rules come into force that fundamentally change the approach to promoting crypto services. Companies face fines ranging from 100,000 to 1 million rubles for violations, and oversight of compliance is distributed across three agencies at once: the FAS, Roskomnadzor, and the Bank of Russia.
The mechanics of penalties: what is controlled and by whom
The base advertising fine for legal entities under Part 1 of Article 14.3 of the Administrative Code ranges from 100 to 500 thousand rubles. However, for mailings without recipient consent, a separate, stricter offense is provided—up to 1 million rubles. At the same time, violations related to internet advertising labeling (erid) and data transmission to Roskomnadzor are allocated to a separate liability framework with sanctions of up to 500 thousand rubles.
A key nuance: if the violator turns out to be a regulated exchanger or digital depositary, oversight from the Central Bank is added on top of that. In effect, businesses face triple control, which requires maximum caution in communications.
How violations are detected: the path from complaint to fine
The process begins with a signal—from a user, a competitor, or as a result of the FAS's own inspection. For example, if an exchanger places a banner on its website saying "USDT at the best rate. Exchange in two minutes. Buy now," this could become grounds for proceedings. The antimonopoly service recommends recording a full screenshot of the page, the site address, and the date.
Next, the agency evaluates the materials and, if there are grounds, initiates a case. The FAS commission reviews it, and if the advertising is deemed improper, an order is issued to cease the violation. Importantly: no court appeal is required to impose a fine—the FAS acts independently, and the company has the right to appeal the decision afterward.
A new philosophy: from prohibition to institutionalization
Starting September 1, the very essence of regulation changes. In 2024, the state banned advertising of what was essentially an unregulated market. Now, in 2025-2026, legal organizers of circulation are emerging, and with them—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 of the new course. For the first time, the market gains the opportunity to legally tell a client: "we provide exchange services" or "we carry out digital accounting." However, the transition period adds uncertainty: the Central Bank registry, which grants the right to fully use the new rules, 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 analysis: In fact, we are witnessing a classic transition from a "gray" market to a legal one, but with high compliance costs. For large players, this is a chance to consolidate the market, while small exchangers that do not make it into the registry will find themselves in a zone of constant risk. I recommend reviewing all advertising creatives and sales scripts right now—better to spend time on a lawyer than money on fines.