Fines up to a million: how Russia will punish violations in crypto advertising
The Russian digital asset market is entering a new phase of regulation, and companies operating in this sphere will have to adapt to strict rules of the game. Violations of legislation on advertising crypto services now carry fines ranging from 100,000 to 1 million rubles. At the same time, oversight functions are distributed across three agencies at once: the FAS, Roskomnadzor, and the Bank of Russia. Let's break down the step-by-step mechanics of detecting violations and bringing parties to responsibility.
Who imposes penalties and for what
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 direct advertising liability. However, for mailings without recipients' consent, a separate, stricter offense applies, where the upper limit reaches 1 million rubles.
There is also a separate area of liability for violations in transmitting data on internet advertising and ERID labeling. Here, Roskomnadzor conducts oversight, and fines for companies also reach up to 500,000 rubles. If the violator turns out to be a regulated exchanger or digital depository, oversight from the Bank of Russia is added to this as well.
Let's consider a specific example. Suppose an exchanger places a large promo banner on its website: "USDT at the best rate. Exchange in two minutes. Buy now." Any user, competitor, or other party may file a complaint, or the FAS may detect signs of a violation on its own. For a complaint about internet 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 an 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. After that, the question of administrative liability under the Administrative Code is decided separately, and a ruling on the fine is issued.
An important nuance: to fine a company, the FAS does not need to go to court. The company subsequently has the right to appeal the issued decision, order, and ruling.
This sequence shows that detecting a violation most often begins with an external signal or an independent inspection. The key piece of evidence becomes the recorded advertising material with specific wording.
A 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 turns out to be 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 gains the opportunity to tell the client completely legally: "we provide exchange services" or "we carry out digital accounting." At the same time, 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 view as an analyst: We are witnessing a classic transition from the "gray zone" to a civilized market. In the coming months, participants will have to balance between the old operating model and new requirements. Caution in wording and completeness of mandatory disclosures become the main protection against regulator claims. Those who manage to adapt their advertising campaigns before all norms take effect will gain a significant competitive advantage. I recommend that companies conduct an audit of all marketing materials for compliance with the new legislation right now.