Cryptocurrency advertising in Russia: new fines of up to 1 million rubles and the division of oversight among three agencies
The Russian digital assets market is entering a new phase of regulation, and this directly affects companies' marketing strategies. Starting September 1, updated rules of the game for advertising crypto services come into force, along with a clear system of penalties that is already raising questions among market participants. This concerns fines reaching 1 million rubles and a complex oversight architecture distributed among three key regulators.
Who punishes and for what
The basic advertising fine for legal entities under Part 1 of Article 14.3 of the Russian Administrative Code ranges from 100 to 500 thousand rubles. This is the classic liability for violating advertising legislation. However, for mailings without recipients' consent, a separate, stricter offense is provided — the fine here can reach 1 million rubles.
Supervisory functions are distributed as follows: the FAS (Federal Antimonopoly Service) controls general violations of advertising legislation, Roskomnadzor is responsible for labeling internet advertising and transmitting data to the Unified Register, and the Bank of Russia oversees regulated exchangers and digital depositories. If a violator turns out to be such a participant, measures from two agencies are applied to them at once.
The mechanism for detecting violations is typically triggered either by a complaint from a user or competitor, or as a result of an independent FAS inspection. For example, an exchanger places a banner on its website saying "USDT at the best rate. Exchange in two minutes. Buy now" — and this is enough for the antimonopoly authority to initiate proceedings. To file a complaint, it is recommended to capture a full screenshot of the page with the website address and date.
Next, the FAS evaluates the materials and, if there are grounds, opens a case. The commission decides to recognize the advertising as improper, after which an order is issued to cease the violation. Importantly: no court appeal is required to impose a fine — the FAS independently issues a ruling, which the company has the right to appeal later.
A new philosophy of regulation
From September 1, the paradigm itself changes. In 2024, the state banned advertising of a virtually unregulated market. By 2026, this market began to institutionalize: legal exchange operators emerged, and with them, the opportunity to advertise their activities. The formula is simple: cryptocurrency as an asset cannot be advertised, but crypto infrastructure and regulated services can already be advertised.
This is one of the most practical changes in the new regulation. For the first time, the market gains the opportunity to legally tell the client: "We provide exchange services" or "We carry out digital accounting." However, the transition period adds uncertainty: the rules are already in effect, but the Central Bank register, which grants the right to fully use the new opportunities, is only being formed. Until July 1, 2027, many existing exchangers remain outside the new advertising regime.
My view on the situation
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. I recommend reviewing all advertising materials now for compliance with the new rules — those who do this first will gain a competitive advantage in the legal field.