Fines up to a million and triple oversight: how Russia will punish violations in crypto advertising
The Russian digital asset market is entering a new phase of regulation, and this is not just about legalization, but also about strict control over the promotion of services. Starting September 1, updated rules for advertising crypto services come into force, with companies facing fines ranging from 100 thousand to 1 million rubles for violations. At the same time, supervisory functions are distributed among three agencies at once: the FAS, Roskomnadzor, and the Bank of Russia.
Who punishes and for what
The base advertising fine for legal entities under Part 1 of Article 14.3 of the Administrative Code ranges from 100 to 500 thousand rubles. However, if the issue involves mailings without prior user consent, the penalty becomes more severe — up to 1 million rubles. A separate area of liability is built around violations related to the labeling of internet advertising and data transfer to the Unified Register. Here, Roskomnadzor acts as the main controller, and fines also reach 500 thousand rubles.
An important nuance: if the violator turns out to be a regulated exchange or digital depository, oversight from the Central Bank is also added to the case. This creates a triple-pressure effect on businesses trying to operate within the legal framework.
The mechanism for detecting violations is as follows. The trigger can be a complaint from a user, competitor, or other person, or an independent FAS inspection. For example, if an exchange places a banner on its website promising the "best USDT rate" with a call to "buy now," this is already grounds for an investigation. The antimonopoly authority recommends recording a full screenshot of the page with the address and date indicated.
Next, the FAS evaluates the materials and, if there are grounds, initiates a case regarding a violation of advertising legislation. The commission issues a decision, and if necessary, an order to cease the violation. No court appeal is required to impose a fine: the agency independently issues a ruling, which the company has the right to appeal later.
A new regulatory philosophy
Since 2024, the state has taken a course toward banning advertising of the effectively unregulated market. However, by 2026, the approach changed dramatically: legal organizers of circulation emerged, and with them, the opportunity to advertise their activities. The formula is simple: cryptocurrency itself cannot be advertised, but infrastructure and regulated services can. This is one of the most practical changes of the new regulation.
For the first time, the market gets the opportunity to legally tell a client: "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 register, which grants the right to use them in full, is only being formed. Until July 1, 2027, many existing exchanges will remain outside the new advertising regime.
My expert view: 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 will become the main protection against regulator claims. This is not just a bureaucratic formality, but a key survival factor under tightening control.