Advertising of crypto services in Russia: a paradoxical transition period begins
From September 1, 2026, perhaps the most controversial regulatory compromise of recent years comes into force in Russia. On the one hand, the market finally gets the right to advertise services for organizing cryptocurrency circulation. On the other hand, the ban on advertising the digital currencies themselves, introduced back in 2024, has not been lifted. This creates a unique legal conflict that requires careful analysis.
The logic of the 2024 ban
Until recently, the answer to the question about advertising cryptocurrencies and related services was extremely simple: it is prohibited. Federal Law No. 221-FZ, in effect since August 19, 2024, introduced a broad ban covering not only the digital currency itself but also any goods, works, and services related to organizing its circulation. In practice, this meant that it was impossible to write "Buy USDT at a favorable rate" or "Exchange Bitcoin in 15 minutes."
This ban, oddly enough, was quite logical. At that time, Russia lacked any regulation of cryptocurrency circulation, and the state effectively prohibited advertising until a legal framework emerged. It is noteworthy that a similar situation arose with mining: it was legalized, but the largest advertising platforms, such as Yandex.Direct, simultaneously banned corresponding advertising, creating an absurd situation.
What changes in September
Now a legal framework has emerged. Federal Laws No. 282-FZ and No. 283-FZ of 04.08.2026 have been adopted, creating a regulated organization of cryptocurrency circulation and restructuring related legislation, including the advertising law. From September 1, the ban on advertising the digital currency itself remains: advertising Bitcoin, Ethereum, or USDT is still prohibited. However, advertising services for organizing circulation is now permitted. The state has created a framework: rules are defined, and conditions for obtaining the statuses of legal crypto exchangers and digital depositories have been established.
Here lies the main paradox. The new advertising conditions take effect as early as September 1, 2026, but apply only to circulation participants from the Central Bank's registry. The full regime, under which only registry participants will be able to organize circulation, activates only from July 1, 2027. Exchangers can operate under the old rules until that date, but the new conditions do not apply to them—since the registry is not yet open, and the Central Bank itself has only published drafts of the relevant procedures.
The market enters an unusual transitional period: new advertising rules already exist, but the admission infrastructure is just being launched. This is not a complete legal vacuum—the law provided transitional mechanisms, but regulatory inconsistency is obvious. As a result, we observe a situation where some players can already advertise their services, while others cannot yet, creating unequal conditions in the market.
Expert opinion: In my view, this transitional period is not so much a technical flaw as a deliberate step by the regulator. By giving the market time to adapt, the Central Bank avoids a sharp shock, while simultaneously creating an incentive for prompt entry into the registry. The question is only how quickly the infrastructure itself will be built, since it determines which players will manage to secure advantageous positions in the new legal advertising market.