Advertising of crypto services in Russia: a paradoxical transition period until 2027
The Russian crypto advertising market is entering an extremely ambiguous phase. Starting September 1, 2026, for the first time in two years, advertising of services related to organizing cryptocurrency circulation will be permitted. However, and this is the key nuance, the ban on advertising the digital currencies themselves—Bitcoin, Ethereum, USDT, and any others—will remain in effect. This duality creates a unique legal conflict that the market will need to come to terms with.
Until recently, the regulator's answer was extremely simple: no. In August 2024, Federal Law No. 221-FZ introduced a broad ban not only on cryptocurrency advertising but also on promoting any goods, works, and services associated with their circulation. This created a paradoxical situation. The state, for example, legalized mining, but at the same time, major advertising platforms such as Yandex.Direct banned its promotion. As a result, advertising mining equipment and cloud resources remained permitted, but advertising the activity itself as a service was prohibited.
The market, however, adapted quickly. In practice, the restrictions were circumvented: in public listings of exchangers, users were openly offered to buy and sell USDT, BTC, ETH, compare rates, and choose services. Participants operated as if the ban did not exist, which only highlighted the unviability of the old norm.
From a legal standpoint, the 2024 ban was logical: there was no regulation of circulation, and therefore there was nothing to advertise. Now the situation is changing. Federal Laws No. 282-FZ and No. 283-FZ of 04.08.2026 have been adopted, creating a legal framework for crypto exchange and amending the law "On Advertising." Starting September 1, 2026, only participants in the Central Bank registry will be able to advertise services for organizing circulation. However, the registry itself has not yet been opened, and the full regime requiring operations exclusively through it will only take effect on July 1, 2027.
This is precisely that strange transitional period. The new advertising rules are already in effect, but the admission infrastructure is just being launched. Exchangers not included in the registry can formally continue operating under the old rules, but the new relaxations do not apply to them. This creates regulatory desynchronization: the law provided for transitional mechanisms, but practical implementation leaves many gray areas.
My analysis: The market will likely perceive this as a signal for consolidation. Major players will rush to join the Central Bank registry to legitimize their advertising budgets, while smaller exchangers will remain in the shadows, risking increased scrutiny from the FAS. The battle for client attention will now be waged not only in the market but also in bureaucratic offices. Success in the new reality will depend on the speed of obtaining status and readiness for transparency.