Crypto news

Starting September 1, 2026, new rules come into effect in Russia that will, for the first time in two years, permit advertising of services related to organizing cryptocurrency circulation. However, this does not mean full liberalization: the ban on advertising digital currencies themselves remains fully in place. This creates a unique and, at first glance, contradictory situation in the market.

Until recently, the answer to the question about advertising cryptocurrencies and related services was extremely simple: it was prohibited. Federal Law No. 221-FZ of August 19, 2024, introduced a broad ban that applied not only to advertising the digital currency itself but also to goods, works, and services associated with organizing its circulation. This ban was a logical step, given that at that time Russia completely lacked legal regulation of this sphere. The state effectively blocked any advertising activity until clear legal frameworks emerged.

In practice, this meant that it was impossible to write "Buy USDT at a favorable rate" or "Exchange Bitcoin in 15 minutes." The ban proved so broad that it even affected adjacent areas. For example, after the legalization of mining in August 2024, Yandex.Direct updated its rules and prohibited advertising of mining, crypto exchanges, blockchain, smart contracts, and ICOs. A paradox arose: the state allowed the activity, but the largest advertising platform banned its promotion. Notably, even now Yandex's rules permit advertising of equipment and cloud resources for mining, but exchanges themselves and mining as an activity remain on the list of prohibited categories.

Now the situation is changing. Federal Law No. 282-FZ of August 4, 2026, "On Digital Currencies and Digital Rights," and Federal Law No. 283-FZ of August 4, 2026, have been adopted, creating a regulated framework for organizing cryptocurrency circulation. The first defines the legal regime and legitimate participants, while the second introduces amendments to related laws, including the Advertising Law. Both documents were officially published on August 4, 2026.

Key point: starting September 1, 2026, the ban on advertising digital currencies themselves remains in effect. You cannot make BTC the "asset of the week," offer to "buy USDT today," or promise growth of a specific coin. However, advertising services for organizing the circulation of digital currencies is now permitted. For this purpose, a separate Article 29.2 of the Advertising Law is being created.

Here is where the most interesting part begins. The new advertising conditions take effect on September 1, 2026, but apply only to cryptocurrency circulation participants from the Central Bank's registry. The full regime, under which only registry participants will be able to organize circulation, activates only on July 1, 2027. Until that date, exchanges can operate under the old rules, but the new advertising conditions do not apply to them because they are not in the registry, which the Central Bank itself has not yet opened.

Thus, the market enters an unusual transitional period. The new advertising rules already exist, but the new licensing infrastructure is only being launched. The Bank of Russia has published draft procedures for maintaining the registries, but it has not come to a complete legal vacuum—the law has provided transitional mechanisms. Nevertheless, regulatory inconsistency is evident.

My analysis: This is a classic example of how a regulator attempts to balance between legalization and control. On one hand, by allowing advertising of services, the state acknowledges the existence of the market. On the other, by maintaining the ban on advertising the currencies themselves, it limits speculative demand. However, in practice, the market has long since adapted: in public listings of exchanges, users are directly offered to buy and sell USDT, BTC, and ETH. This transitional period will serve as a test of how effectively the Central Bank can control an industry that feels quite confident even without advertising.