Fines up to a million: how Russia will punish violations of crypto advertising rules
The Russian digital asset market is entering a new phase of regulation, and now advertising activities of crypto companies will be under strict control. For violations of the new rules on advertising crypto services, legal entities face fines ranging from 100 thousand to 1 million rubles. At the same time, supervisory functions are distributed among three key agencies: FAS, Roskomnadzor, and the Bank of Russia.
Mechanics of penalties: what businesses need to know
The basic advertising fine for legal entities under Part 1 of Article 14.3 of the Administrative Code ranges from 100 to 500 thousand rubles — this is liability for improper advertising. However, for mailings without recipient consent, a separate, stricter offense is provided with a maximum fine of up to 1 million rubles.
A special liability framework is built around ERID violations and the transfer of information about online advertising. Here, Roskomnadzor acts as the key supervisory body, and fines for companies also reach 500 thousand rubles. If the violator turns out to be a regulated exchanger or digital depository, supervision by the Bank of Russia is also added to this.
Illustrative is the example of exchanger X, which places a large promo banner on its website: "USDT at the best rate. Exchange in two minutes. Buy now." A complaint may be filed by a user, competitor, or other person, or FAS may detect signs of a violation on its own. For a complaint about online advertising, the antimonopoly authority recommends recording a full screenshot of the page, the site address, and the date of capture.
Next, the agency evaluates the materials and, if there are grounds, initiates a case on violation of advertising legislation. The case is reviewed by the FAS commission. If the advertising is deemed improper, a decision is issued and, if necessary, an order to cease the violation or amend the advertising. Interestingly, FAS does not need to go to court to impose a fine — the company has the right to subsequently appeal the already issued decision, order, and ruling.
New philosophy of regulation
From September 1, the very philosophy of regulating crypto market advertising changes. In 2024, the state first banned advertising of the effectively unregulated market. In 2026, this market began to be institutionalized: legal circulation organizers emerged, and along with them, the opportunity to advertise their activities.
The main formula is simple: cryptocurrency cannot be advertised, but crypto infrastructure and regulated services now can be. This is one of the most practical changes of the new regulation. For the first time, the market gets the opportunity to completely legally tell the client "we provide exchange services" or "we carry out digital accounting."
However, the transition period adds uncertainty to the market. The new advertising 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.
My analysis: 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 are becoming the main protection against regulator claims. Companies that adapt their advertising materials to the new standards in advance will gain a significant competitive advantage over those who prefer a wait-and-see position.