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 working with cryptocurrencies should prepare for serious financial consequences for violations in the advertising sphere. Starting September 1, updated rules come into force, providing for fines ranging from 100 thousand to 1 million rubles for legal entities. Let's break down how this system will work and who exactly will monitor compliance.
Who is punished and for what
A key feature of the new mechanism is the division of supervisory functions among three agencies. The FAS will be responsible for compliance with general advertising norms, Roskomnadzor — for labeling internet advertising and transmitting data to the ERIR, and the Bank of Russia will take control over advertising of services provided by supervised organizations, including exchangers and digital platforms.
The base fine under Part 1 of Article 14.3 of the Administrative Code for legal entities will range from 100 to 500 thousand rubles. However, for mailings without recipient consent, a separate, stricter offense is provided — up to 1 million rubles. It is important to understand: to hold a company liable, the FAS does not require going to court — the agency independently issues a fine order, which the company can challenge later.
An illustrative example is an exchanger's advertising banner: "USDT at the best rate. Exchange in two minutes. Buy now." Any user or competitor can file a complaint with the FAS, attaching a screenshot of the page with the date of capture. The agency will assess the materials and, if it finds signs of a violation, initiate a case. The FAS commission issues a decision, followed by an order to cease the violation and a fine order.
A new philosophy of regulation
The shift in approach is obvious. In 2024, the state banned advertising of a virtually unregulated market, and now, with the emergence of legal circulation organizers, advertising activity becomes possible. The formula is simple: cryptocurrency itself cannot be advertised, but infrastructure and regulated services can. This is one of the most practical changes in legislation.
For the first time, market participants gain the opportunity to legally state: "we provide exchange services" or "we carry out digital accounting." However, the transition period adds uncertainty: the Central Bank registry, which grants the right to fully use the new rules, is only being formed. Until July 1, 2027, many existing exchangers will remain outside the new advertising regime.
In the coming months, companies will have to balance between the old operating model and new requirements. Maximum caution in wording and full compliance with mandatory disclosures will be the main protection against regulator claims.
My forecast: those who adapt their advertising campaigns to the new standards in advance will gain a competitive advantage. The market is heading toward consolidation around legal players, and gray promotion schemes will be pushed out by fines and supervisory pressure.