Advertising crypto services in Russia: new law, old prohibitions, and a transition period of uncertainty
Starting September 1, 2026, new rules come into effect in Russia that, for the first time in two years, will allow advertising services related to organizing cryptocurrency circulation. However, the ban on advertising the digital currencies themselves remains fully in place. This creates a curious legal hybrid that will require market participants to exercise particular caution and legal ingenuity.
The logic of the 2024 ban
Until recently, the answer to the question of advertising cryptocurrencies and related services was extremely simple: no. Federal Law No. 221-FZ of August 19, 2024, introduced a broad ban on advertising digital currencies themselves, as well as goods, works, and services related to organizing their circulation or directly to their circulation. The ban also extended to offering digital currency to an unlimited circle of people.
In practice, this meant that it was impossible to write "Buy USDT at a favorable rate," "Exchange Bitcoin in 15 minutes," or advertise a crypto exchange as a place for exchange. The wording proved so broad that the effect quickly extended far beyond the exchanges themselves.
The example of mining is telling. In August 2024, the state effectively legalized this activity, establishing requirements for miners and creating a separate regulated regime for them. At the same time, Yandex.Direct updated its rules and banned advertising of mining, crypto exchanges, blockchain, smart contracts, ICOs, and a number of other related services. The result was a strange effect: the state had just legalized mining, and the largest advertising platform banned advertising it almost at the same moment.
What changes in September
Now such a regime has emerged. Federal Law No. 282-FZ of 04.08.2026 "On Digital Currencies and Digital Rights" and Federal Law No. 283-FZ of 04.08.2026 were adopted. The first creates the regulated framework for organizing cryptocurrency circulation and defines its legal participants. The second restructures a large number of related laws, including the Advertising Law. Both laws were officially published on August 4, 2026.
Starting September 1, 2026, the ban on advertising digital currencies themselves remains. Advertising Bitcoin, Ethereum, USDT, or any other specific digital currency is still prohibited. 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. Unlike in 2024, the state has created a regulated framework: the rules for organizing circulation are defined, and conditions are established for obtaining the statuses of legal crypto exchanges, digital depositories, and other participants. Banning these participants from informing the market about their services would seem strange. A separate permitted model for this is created by the new Article 29.2 of the Advertising Law.
The transition period and its risks
This is where things get most interesting. The new advertising conditions take effect as early as September 1, 2026, but they apply only to cryptocurrency circulation participants listed in the Central Bank's registry. At the same time, the full regime, under which only registry participants are entitled to organize circulation, is activated only on July 1, 2027.
Exchanges can operate under the old rules until that date, but the new advertising conditions do not apply to such players—they are not in the registry, which the Central Bank itself has not yet opened.
Thus, starting September 1, the market enters an unusual transition 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 registries and other necessary acts. This is not a complete legal vacuum—the law specifically provided for transitional mechanisms—but a certain regulatory inconsistency is evident here.
My view: this transition period will become a serious stress test for the industry. Legal players who manage to obtain status in the Central Bank's registry will gain a competitive advantage in the form of access to advertising. The rest will have to either wait or operate in a gray area, which is fraught with risks. I recommend that market participants prepare their legal groundwork now and monitor the Central Bank's regulations to avoid missing the moment.