Fines up to a million: how Russia will punish violations in crypto advertising
The Russian digital assets market is entering a new phase of regulatory certainty. Starting September 1, the mechanism for controlling advertising of crypto services is tightening: companies face fines ranging from 100,000 to 1 million rubles for violations. At the same time, supervisory functions are distributed among three key agencies — FAS, Roskomnadzor, and the Bank of Russia, which forms a complex but quite predictable enforcement system.
Penalty mechanics: who is responsible for what
Basic liability for improper advertising for legal entities is established by Part 1 of Article 14.3 of the Administrative Code and ranges from 100 to 500 thousand rubles. However, for unauthorized mass mailings, a separate, stricter offense is provided — here the fine reaches up to 1 million rubles. Roskomnadzor, in turn, monitors compliance with internet advertising labeling requirements (ERID) and data submission to the unified registry — companies also face up to 500 thousand rubles for these violations.
A special case is regulated exchangers and digital depositories. In addition to FAS and Roskomnadzor sanctions, they fall under additional oversight by the Bank of Russia. This creates a "triple-loop" control effect, where each regulator operates within its own area of responsibility.
Procedure: from complaint to ruling
The process of identifying violations begins either with an external signal — a complaint from a user, competitor, or other person — or with an independent FAS inspection. For a complaint about internet advertising, the antimonopoly authority recommends capturing a full screenshot of the page, the website address, and the date of capture. The agency then evaluates the materials, and if grounds exist, initiates a case regarding violation of advertising legislation. The FAS commission issues a decision and, if necessary, an order to cease the violation. Importantly: going to court is not required to impose a fine — the ruling is issued directly by the agency, and the company has the right to appeal it subsequently.
A new philosophy of regulation
The key shift lies in changing the paradigm itself. In 2024, the state banned advertising of a market that was effectively unregulated. Now, in 2026, when legal organizers of circulation have emerged, advertising their activities is permitted. The formula is simple: cryptocurrency as such is not subject to advertising, but crypto infrastructure and regulated services — yes, they are. This is one of the most practical changes in the new regulation.
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 exchangers remain outside the new advertising regime. 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 protection against regulator claims.
My view: this is a long-overdue step that divides the market into "white" and "gray" operators. Companies that manage to adapt their advertising campaigns to the new rules will gain a competitive advantage, while those that continue to work by old methods risk not only fines but also reputational losses. The regulator is clearly signaling: legality is not a restriction but a license to grow.