Advertising crypto services in Russia: a paradoxical transition period until 2027
Starting September 1, 2026, new rules come into effect in Russia that, for the first time in two years, will allow advertising of services related to organizing cryptocurrency circulation. However, a complete ban on advertising the digital currencies themselves remains in place. This creates a unique and, at first glance, contradictory situation in the market, which I have analyzed in detail based on the latest legislative changes.
Until recently, the answer to the question about advertising cryptocurrencies and related services was extremely simple: it is prohibited. Federal Law No. 221-FZ of August 19, 2024, introduced a broad ban on advertising digital currencies, as well as goods, works, and services associated with organizing their circulation. This ban was so comprehensive that it effectively blocked any marketing activities, from exchangers to mining pools.
Interestingly, this 2024 ban was logical from a legal standpoint. At that time, Russia lacked any regulation of organizing cryptocurrency circulation. The state, in essence, prohibited advertising something that had no legal status. The example of mining is telling: in August 2024, it was legalized, but Yandex.Direct simultaneously banned advertising of mining, exchangers, and related services. An absurd situation arose: the activity is permitted, but talking about it is not.
What changes in September
Now the situation is changing dramatically. Federal Laws No. 282-FZ and No. 283-FZ of August 4, 2026, have been adopted, creating a regulated framework for organizing cryptocurrency circulation. The first law defines the legal regime and legitimate participants, while the second introduces amendments to related laws, including the Advertising Law. From September 1, the ban on advertising the digital currencies themselves remains: it is prohibited to advertise Bitcoin, Ethereum, or USDT as an asset, promise growth of a specific coin, or encourage choosing one cryptocurrency over another.
However, advertising of services for organizing circulation is now permitted. This is a logical step: if the state has created a regulated regime with a registry of legitimate exchangers and depositories, it would be strange to prohibit them from informing the market about their services. The new Article 29.2 of the Advertising Law creates a separate permitted model for this.
But here lies the main paradox. The new advertising conditions take effect as early as September 1, 2026, but they apply only to participants in the Central Bank registry. The full regime, under which organizing circulation is permitted exclusively to registry participants, activates only on July 1, 2027. Until that date, exchangers can operate under the old rules, but the new advertising conditions do not apply to them—they are not in the registry, which the Central Bank itself has not yet opened.
Thus, the market enters an unusual transitional period. The new rules already exist, but the new licensing infrastructure is just being launched. The Bank of Russia has published draft procedures for maintaining the registries, indicating progress, but full synchronization of regulatory mechanisms is clearly lagging.
My analysis: This transitional period is not a legal vacuum but rather a test zone. Market participants who manage to integrate into the Central Bank registry by July 2027 will gain an exclusive right to legal advertising. The rest risk remaining in a gray area where the advertising ban persists, while liability for its violation may become stricter. I recommend that exchangers start preparing documents for registry entry right now to avoid losing a competitive advantage in the new reality.