Advertising of crypto services in Russia: the beginning of a strange transitional period
Starting September 1, 2026, a new procedure for advertising services related to organizing cryptocurrency circulation comes into effect in Russia. However, the ban is not fully lifted: advertising of digital currencies themselves remains prohibited. This creates a unique legal collision, which I have analyzed as part of a review of the new regulation.
The logic of the 2024 ban
Until recently, the answer to the question about advertising cryptocurrencies and related services was extremely simple: prohibited. Federal Law No. 221-FZ of August 19, 2024, introduced a broad ban on advertising not only digital currencies but also any goods, works, and services associated with their circulation. The wording was so extensive that even exchangers and mining fell under the ban.
In practice, this meant it was impossible to write "Buy USDT at a favorable rate" or "Exchange Bitcoin in 15 minutes." The ban also extended to offering digital currency to an unlimited circle of people. Notably, during the same period, the state legalized mining, creating a separate regulated regime for it, but major advertising platforms such as Yandex.Direct introduced their own restrictions. A paradox emerged: mining is allowed, but its advertising is not.
Today, Yandex's rules still permit advertising of equipment and cloud resources for mining, but exchangers themselves and mining as an activity remain on the prohibited list. Meanwhile, the market has adapted over two years: in public listings of exchangers, users are still offered the opportunity to buy and sell USDT, BTC, ETH, comparing rates.
What changes in September
The situation changes dramatically with the adoption of Federal Laws No. 282-FZ and No. 283-FZ of August 4, 2026. The first creates a regulated organization for cryptocurrency circulation and defines its legal participants. The second introduces amendments to related laws, including the Advertising Law.
Starting September 1, 2026, the ban on advertising digital currencies themselves remains in effect. You cannot make BTC the "asset of the week," offer to "buy USDT today," or promise growth of a specific coin. However, advertising services for organizing circulation is now permitted. The state has created a regulated framework: rules are defined, along with conditions for obtaining the status of legal exchangers, digital depositories, and other participants. For this purpose, a new Article 29.2 of the Advertising Law is introduced.
Transition period: legal desynchronization
A key nuance: the new advertising conditions take effect on September 1, 2026, but apply only to circulation participants from the Central Bank registry. The full regime, under which only registry participants are entitled to organize circulation, activates only on July 1, 2027. Until that date, exchangers can operate under old rules, but the new advertising conditions do not apply to them because the registry is not yet open.
This creates an unusual transition period. The laws already exist, but the admission infrastructure is only being launched. The Bank of Russia has published draft procedures for maintaining registries, but this is not a complete legal vacuum—the legislator has provided transitional mechanisms. Nevertheless, regulatory desynchronization is evident.
My analysis: The market is entering a phase of uncertainty, where advertising of services is formally permitted, but there are actually no legal players able to use it yet. This creates a window of opportunity for gray schemes, but also risks for bona fide participants. I recommend that exchangers closely monitor the Central Bank's drafts and prepare to operate in the new legal field now, so as not to lose competitive advantages.