Yandex bans crypto ads

Yandex has updated its advertising policies, banning the promotion of cryptocurrencies and related services on its platform. The new rules prohibit advertising for electronic currency exchanges, blockchain and smart contract services, mining operations, and ICOs. However, advertising for physical equipment used in cryptocurrency mining and storage, as well as educational materials and events related to cryptocurrencies, is still allowed. according to Cryptocurrency.

Analyst Viktor Pershikov explained that the ban on cryptocurrency advertising applies to everything except the sale of mining equipment and consultancy services that are not directly related to cryptocurrency exchange or acquisition. Despite the legalization of cryptocurrency mining in Russia, mining pools are still not permitted to advertise their services, creating a contradiction where the activity is allowed, but its promotion is prohibited.

The company BitOK expressed frustration that even AML/KYT checks, which are aimed at ensuring the safety of citizens’ and state assets, have been banned. Experts at Cartesius noted that these new rules essentially eliminate the possibility of contextual advertising for the entire crypto market in Russia.