Fines up to a million: how Russia will punish violations in crypto advertising
The Russian digital asset market is entering a new phase of regulation, and supervisory authorities now have a clear and stringent toolkit to combat dishonest advertising. Companies that violate rules for promoting crypto services face fines ranging from 100,000 to 1 million rubles. Oversight is distributed across three key bodies: the FAS, Roskomnadzor, and the Bank of Russia.
The Mechanics of Punishment: From Complaint to Ruling
The system is based on a two-tier approach to liability. The base fine for legal entities under Part 1 of Article 14.3 of the Administrative Code for violating advertising legislation ranges from 100,000 to 500,000 rubles. However, unauthorized mass mailings carry a separate, harsher penalty—up to 1 million rubles.
Special attention is paid to violations related to internet advertising labeling (ERID). Here, Roskomnadzor acts as the primary overseer, with fines for companies also reaching 500,000 rubles. If the violator is a regulated crypto exchange or digital asset operator, the Central Bank also becomes involved, creating a triple-pressure effect.
The process of identifying violations begins either with a complaint from a user, competitor, or other interested party, or with an independent FAS inspection. To file a complaint, the antimonopoly service recommends capturing a full screenshot of the page, including the site address and date. The agency then evaluates the materials and, if grounds exist, initiates a case. The FAS commission issues a ruling and, if necessary, an order to cease the violation. It is important to note: no court appeal is required to impose a fine, although the company retains the right to challenge the decision later.
A New Philosophy: From Prohibition to Institutionalization
Starting September 1, 2026, the regulatory paradigm itself changes. In 2024, the state banned advertising of a market that was effectively unregulated. Now, with the emergence of legal circulation organizers, the market gains the right to promote itself. The key formula is simple: advertising cryptocurrency itself remains prohibited, but advertising infrastructure and regulated services is now allowed.
This is one of the most practical changes in the new regulation. For the first time, market participants can legally tell 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 granting the right to fully use them is only being formed. Until July 1, 2027, many existing exchangers will 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 regulatory claims.
My view: This is a landmark step that finally separates the "gray" market from legal infrastructure. Companies that fail to adapt their advertising campaigns to the new requirements risk becoming the first "showcase" victims. However, for honest players, this is a chance to differentiate themselves from illegal competitors and win audience trust.