The Russian digital asset market is entering a new phase of regulation, and violations in crypto advertising will now cost companies a hefty sum. I have analyzed the mechanics of the new rules and am ready to share the key details that every industry participant needs to know.
The base fine for legal entities under Part 1 of Article 14.3 of the Administrative Code ranges from 100,000 to 500,000 rubles — this is the classic liability for improper advertising. However, for those who choose to disregard the rules on sending messages without recipient consent, a separate, stricter offense is provided with a maximum fine of up to 1 million rubles.
Who imposes penalties and for what
Control over compliance with the requirements is distributed among three key agencies. The FAS is responsible for general violations of advertising legislation, Roskomnadzor — for labeling internet advertising and transmitting data to the Unified Register of Internet Advertising (ERIR), and the Bank of Russia oversees supervised exchangers and digital depositories. At the same time, for violations related to ERID and the transmission of information about internet advertising, fines for companies also reach 500,000 rubles.
The mechanism for detecting violations begins with an external signal. This could be a complaint from a user, competitor, or other party, or the independent detection of signs of a violation by FAS employees. For example, if an exchanger places a banner on its website with the call "USDT at the best rate. Exchange in two minutes. Buy now," this would become grounds for an investigation. The Antimonopoly Service recommends recording a full screenshot of the page indicating the site address and date — this is key evidence.
After receiving the materials, the agency evaluates the advertisement and, if there are grounds, initiates a case of legislation violation. The FAS commission reviews it and, if the advertisement is deemed improper, issues an order to cease the violation. It is important to note: the FAS does not need to go to court to impose a fine — the decision and ruling are issued directly, and only then can the company appeal them in court.
A new philosophy of regulation
From September 1, the approach to advertising the crypto market changes dramatically. In 2024, the state banned advertising of the effectively unregulated market. By 2026, this market began to institutionalize: legal circulation organizers emerged, and with them — the opportunity to advertise their activities. The formula is simple: cryptocurrency cannot be advertised, but crypto infrastructure and regulated services — now can be.
This is one of the most practical changes in the new regulation. For the first time, the market gets the opportunity to completely 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 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 the new requirements. Caution in wording and completeness of mandatory disclosures are becoming the main protection against regulator claims.
My expert assessment: the new system is a step toward a civilized market, but it creates serious risks for those who fail to adapt in time. For companies still operating in the gray zone, I strongly recommend reviewing their advertising strategies and legal wording right now, without waiting for the first precedents. Fines are just the tip of the iceberg; reputational losses from public proceedings could be far more significant.