Crypto advertising in Russia: new fines up to 1 million rubles and division of oversight
The Russian digital asset market is entering a new phase of regulation. Starting September 2026, companies face fines ranging from 100,000 to 1 million rubles for violations in advertising crypto services. This is not just a tightening—we are witnessing the formation of a full-fledged control system, where supervisory functions are distributed among the FAS, Roskomnadzor, and the Bank of Russia.
How the penalty system works
The base fine for improper advertising 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—here the maximum threshold reaches 1 million rubles. Notably, for violations related to the transfer of data on internet advertising (erid), Roskomnadzor is responsible, and if the violator turns out to be a regulated exchanger or digital depository, the Central Bank's oversight is also brought into the process.
The mechanism for detecting violations works as follows. A signal may come from a user, a competitor, or be the result of an independent FAS inspection. The antitrust authority recommends recording a full screenshot of the page with the site address and date—this becomes key evidence. The agency then evaluates the materials and, if there are grounds, initiates a case. The FAS commission issues a decision, and no court appeal is required to impose a fine—the company has the right to appeal the ruling after it is issued.
A new philosophy of regulation
Starting September 1, the paradigm itself changes. In 2024, the state banned advertising the effectively unregulated market. Now that legal organizers of circulation have emerged, advertising their activities becomes possible. The formula is simple: cryptocurrency as such cannot be advertised, but crypto infrastructure and regulated services can be. This is one of the most practical changes in the new legislation.
For the first time, the market gets the opportunity to legally tell a client: "we provide exchange services" or "we carry out digital accounting." However, the transition period adds uncertainty: new rules are already in effect, but the Central Bank registry, which grants the right to fully use them, 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 protection against regulator claims.
My view: This is a logical step in the evolution of Russian crypto regulation. The division of oversight among three agencies creates a complex but predictable system. The key risk for business is not the fines themselves, but the uncertainty of the transition period, when rules formally already work, while the infrastructure for complying with them is not yet fully formed. I recommend that companies review their advertising materials now and align their wording with the new realities.