As an analyst with extensive experience navigating the complex landscape of global digital markets, I find Yandex’s recent move to tighten its ad policies towards cryptocurrency services within Russia an expected yet strategic decision. Given the stringent regulatory environment surrounding cryptocurrencies in the country, this policy shift aligns well with Russia’s legal framework.
In simpler terms, the biggest Russian search platform, Yandex, has recently revised its advertising guidelines, prohibiting advertisements related to cryptocurrency exchanges, smart contracts, mining operations, and Initial Coin Offerings (ICOs).
The leading Russian search engine, Yandex, has revised its ad guidelines to prohibit advertisements pertaining to cryptocurrency services inside the country.
Immediately enacted, this new policy is an integral part of our ongoing strategy to ensure our platform’s activities comply with the cryptocurrency regulations established in the country. This move follows Russia’s President Vladimir Putin signing a law that upholds stringent restrictions on crypto advertising and related services.
As stated by Yandex, the ban is focused on disallowing advertisements related to cryptocurrency exchanges, blockchain services, smart contracts, cryptocurrency mining, initial coin offerings, and any promotions suggesting income from these activities. The policy additionally limits ads for services that monitor crypto wallets and transactions for potential money laundering actions.
Yet, Yandex made it clear that certain types of ads concerning cryptocurrencies would still be acceptable, for instance, advertisements promoting physical hardware utilized in cryptocurrency mining and storage, educational articles, tutorials, and events related to cryptocurrencies, mining, ICOs, and more. Moreover, legal consultations on crypto-related topics will also be allowed under the revised guidelines.
In non-Russian territories, Yandex will carry on permitting cryptocurrency ads, but with certain limitations. These advertisements must adhere to all local laws and Yandex’s advertising guidelines, which forbid any assurances of swift profits, guarantees of successful trades, mentions of success tales, and assertions that crypto transactions are completely safe and free from risk.
Yandex is taking a stricter stance on advertising policies compared to Google, who recently loosened their rules regarding cryptocurrency ads after the United States Securities and Exchange Commission approved Bitcoin (BTC) exchange-traded funds this year.
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2024-08-19 14:52