The Russian digital asset market is entering a phase of strict institutional control. Starting September 1, new rules come into effect that fundamentally change the approach to advertising crypto services. Companies that commit violations face fines ranging from 100,000 to 1 million rubles, with supervisory functions distributed among three key agencies: the FAS, Roskomnadzor, and the Bank of Russia.
An analysis of the new regulations shows that the base advertising fine for legal entities under Part 1 of Article 14.3 of the Administrative Code will range from 100 to 500 thousand rubles. However, for unauthorized mass mailings, a separate, more severe offense is provided, with a maximum penalty of up to 1 million rubles. This is a signal to the market: the regulator intends to eradicate spam marketing in the crypto sphere.
Enforcement Mechanics
A separate liability framework has been built around violations of internet advertising labeling (ERID) and the transfer of data about it. Here, Roskomnadzor acts as the chief arbiter, with fines for companies reaching 500 thousand rubles. If the violator turns out to be a regulated exchange or digital depository, the Central Bank's oversight is also brought into the case.
Illustrative is the example of a hypothetical exchange X placing a banner on its website: "USDT at the best rate. Exchange in two minutes. Buy now." A trigger for an inspection could be a complaint from a user, a competitor, or the FAS independently detecting signs of a violation. To file a complaint, the antimonopoly service recommends recording a full screenshot of the page, the site address, and the date.
This is followed by a standard procedure: the agency evaluates the materials, initiates a case regarding a violation of advertising legislation, and the FAS commission issues a ruling. If the advertising is deemed improper, an order is issued to cease the violation. Notably, the FAS does not need to go to court to impose a fine—this speeds up the administrative prosecution process.
A New Regulatory Philosophy
The key change is a paradigm shift. In 2024, the state banned advertising of a market that was essentially unregulated. By 2026, the market began to institutionalize: legal circulation organizers emerged, and with them, the opportunity to advertise their activities. The formula is simple: cryptocurrency itself cannot be advertised, but crypto infrastructure and regulated services now can be.
However, the transition period adds uncertainty. The Central Bank's registry, which grants the right to fully use the new relaxations, is only being formed. Until July 1, 2027, many existing exchanges remain outside the new advertising regime. Market participants will have to balance between the old operating model and new requirements, where caution in wording and completeness of mandatory disclosures will become the main defense against regulatory claims.
My comment: This is a long-overdue step, but it creates serious risks for small players who may not have time to adapt to the new requirements. I recommend that companies conduct an audit of all marketing materials right now and bring them into compliance with the new rules to avoid fines during the transition period.