Russian lawmakers continue to actively work on the legal framework for cryptocurrencies, but the results are often controversial. Recent changes to the "Advertising" law are a vivid example of how good intentions can lead to ambiguous consequences.

In 2024, amendments were made to the legislation that directly relate to cryptocurrency advertising. Article 7 of the "Advertising" law received two new points — 13th and 14th — which prohibit the promotion of digital currencies and digital financial assets. In fact, this is not entirely a new phenomenon — courts have long banned such advertising, but now it is enshrined at the legislative level.

This is where the interesting part begins. Many people immediately panic, thinking that all information about cryptocurrencies is now banned. In reality, it’s a bit more complicated. First, not every mention of cryptocurrencies is considered advertising. For example, if you share information at a conference, in a scientific article, or simply write in a closed group for specific people — this does not fall under the definition of advertising. The law refers to advertising as the dissemination of information to an indefinite circle of persons for the purpose of promotion.

Second, the ban specifically concerns digital currencies and CFTAs. It’s important to understand the definitions here. Digital currency by law is electronic money or an investment asset that exists only in digital form, is not tied to official currencies, and operates independently. It turns out that popular stablecoins and many cryptocurrencies technically do not fall under this definition, although the situation on the ground may be different.

As for CFTAs, the ban applies only to those assets intended for a limited circle of investors. If the issuer restricts the potential buyers to specific legal entities or individual entrepreneurs, then advertising such an asset is prohibited. This is done to protect unqualified investors. But unlimited CFTAs, utility digital rights, NFTs, and foreign assets remain outside the ban.

In practice, this means that crypto exchanges and trading platforms are affected by the restrictions. They cannot advertise their services. At the same time, educational courses, analytical services, blockchain solution developers, and mining companies can continue working without such restrictions.

What can and cannot be advertised? Direct calls to buy or sell cryptocurrencies, advertising exchange services, and promotion of trading tournaments are prohibited. However, educational content about cryptocurrencies, market trend reviews, interviews with experts, and information about blockchain technology are all permitted. The main thing is not to cross the red line and not to urge people to make transactions.

To avoid violating the law, it is necessary to avoid direct calls to operations with cryptocurrencies, use neutral wording instead of advertising, focus on educational content, and not mention specific exchanges. Fines for violations can amount to up to 500,000 rubles for both advertisers and platforms that place such cryptocurrency ads.

The situation remains ambiguous. Token games, meme coins, and NFTs are in a gray area — technically they may not fall under the ban, but it all depends on how you position them. Some experts believe this is simply a legislative oversight, and over time restrictions may expand further. It would be interesting to see how courts interpret these ambiguities if someone decides to challenge the fine.