Fines up to a million: how Russia will punish violations in crypto advertising
The Russian digital asset market is entering a new phase of institutional regulation, and a key marker of this process is the tightening of control over advertising activities. Starting September 1, new rules come into effect, providing for fines ranging from 100,000 to 1 million rubles for companies violating legislation on advertising crypto services. At the same time, supervisory functions are distributed among three key regulators: the FAS, Roskomnadzor, and the Bank of Russia.
The mechanics of liability: who pays and for what
The basic advertising fine for legal entities under Part 1 of Article 14.3 of the Administrative Code ranges from 100,000 to 500,000 rubles. However, for mailings without recipient consent, a separate, stricter provision applies, providing for penalties of up to 1 million rubles. This is a fundamentally important signal for marketing departments: aggressive email and SMS campaigns now carry maximum risks.
A special liability framework exists for violations of ERID labeling and failure to transmit information about online advertising — here, Roskomnadzor oversees compliance, and fines for companies also reach 500,000 rubles. If the violator turns out to be a regulated exchange or digital depository, supervision by the Central Bank is added as well.
The procedure begins with an external signal: a complaint from a user, a competitor, or an independent FAS inspection. For example, if an exchange places a banner on its website reading "USDT at the best rate. Exchange in two minutes. Buy now," any interested party can file a complaint. The FAS recommends recording a full screenshot of the page with the site address and date — this becomes key evidence.
A new philosophy of regulation
Starting September 1, the very philosophy of the approach changes. In 2024, the state banned advertising of the effectively unregulated market. Now, in 2026, this market is beginning to be institutionalized: legal organizers of circulation are emerging, and along with them, the opportunity to advertise their activities. The formula is simple: cryptocurrency cannot be advertised, but crypto infrastructure and regulated services can be.
This is one of the most practical changes in the new regulation. For the first time, the market gains the opportunity to legally inform 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, which grants the right to use them in full, is only being formed. Until July 1, 2027, many existing exchanges remain outside the new advertising regime.
My analysis: 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. Those who adapt their marketing strategies to the new realities in advance will gain a significant competitive advantage, while ignoring the rules could result not only in financial losses but also reputational damage.