Search Engine Yandex Bans Crypto Ads in Russia
Jimmy has nearly 10 years of experience as a journalist and writer in the blockchain industry. He has worked with well-known publications such as Bitcoin Magazine, CCN, Business2Community, and...
Russia’s leading search engine, Yandex, has banned ads related to crypto services in the country effective immediately. This move is part of a broader effort by the Russian government to regulate the booming crypto industry.
According to a statement from Yandex, the ban specifically prohibits advertisements promoting crypto exchanges, blockchain services, smart contracts, crypto mining, and initial coin offerings (ICOs), as well as any ads promoting earnings from these activities.
However, ads related to Bitcoin mining equipment and other crypto training materials related to events are allowed under the new terms.
JUST IN: Yandex updates its policies, banning ads for cryptocurrencies, blockchain services, mining operations, and ICOs.
This ban aligns with the government’s ongoing efforts to strictly regulate digital currencies, aiming to mitigate the risks of financial instability and illegal activities such as money laundering.
The advertising restrictions come as the Russian government and the central bank are in discussions about establishing domestic cryptocurrency exchanges. This initiative is designed to ensure that cryptocurrency transactions are transparent and fully compliant with Russian law.
The aim is to bring more oversight to the crypto market, which has grown substantially in recent years but remains largely unregulated.
Russia’s regulatory efforts to ban ads related to crypto services contrast with Google, which earlier in the year added crypto wallet balances across various blockchains to its search features after it
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