One man’s food is another man’s junk. That’s the same concept with the regulation of cryptocurrency ads. While other platforms see it as a means of expanding the crypto community, others see it as taboo to promote such “Ponzi schemes.” Nonetheless, it should be noted that either platform allows crypto ads or not; it still wouldn’t stop cryptocurrency from existing or stop investors from investing. The only disadvantage is that it might take more time for the new cryptocurrency to circulate worldwide.
The regulation of crypto ads by online platforms is synonymous with regulating crypto activities in some countries. Several individuals have their own opinion regarding what the crypto platform is or would turn out to be in the nearest future. So, it’s practically impossible for the crypto community not to have opposition. But, as an investor, you should note that crypto advertisement would not mean you make a little less profit, especially if you are a day trader. You do not need any crypto ads before you can buy Cardano; you just have to visit the right exchange platform to buy as many units of Cardano as possible. So, in the long run, banning crypto ads is insignificant.
Crypto ads restrictions and bans
Advertising of crypto-related projects has always been allowed till around 2018. However, just a few months into 2018, Google, Twitter, and Facebook banned cryptocurrency advertisements on their platforms. After this, there was no avenue to advertise crypto, such that no legal company could buy tokens even via the ICO. Before this, Facebook had labelled cryptocurrency and all crypto-related business as fraudulent and misleading. A few months later, Facebook and Google lifted this ban partially, thereby allowing the advertisement of crypto-related businesses and cryptocurrencies from approved advertisers alone in Japan and the United States. This year, Google has again loosened up its grip on the advertisement of crypto-related projects, allowing better propagation of crypto-related news via their platform.
The inflow of large investors like Square and Tesla buying million’s worth of bitcoin this year boosted most platforms to allow the advertisement of cryptocurrencies on their platforms. Also, one of the oldest banks in the United States, BNY Mellon, has shown interest in the cryptocurrency community, forcing the hands of several notable platform owners like Facebook, Twitter and Google to allow crypto-related ads. On the other hand, Visa had also announced its cooperation with BlockFi to release a credit card that offers clients cashback in bitcoins.
In 2021 alone, just after Tesla made its $1.5 billion Bitcoin investment, the cryptocurrency market cap for the first time in its history capped $1.4 trillion, surpassing Google stock. The crypto community had grown over the last couple of years, even before bans were lifted on crypto ads. However, it is worthy to note that the bans imposed on crypto ads had little influence on the propagation and growth of the crypto community, although this influence is not too pronounced. Some of the changes made by Google on August 3 this year will also help loosen its grip on crypto ads restrictions, allowing crypto wallets and exchanges to be announced and advertised using their platform. It should be noted that crypto ads regulations differ from one country to the other, and while some impose regulations on crypto ads, some went as far as banning any crypto-related ads platforms.
How do Global Regulations affect Crypto Advertising?
Currently, in some countries, advertising does not align with financial authorities. However, some countries do not rush to take restrictions or impose bans on innovations as others do. Instead, they study and analyse the situation weighing their opportunities and weakness as regards innovation. Thus, with this kind of orientation, crypto ads regulation could be predicted, especially from platforms to platforms. While one platform can impose stringent restrictions, others might have their dos and don’ts with fair judgments.
As explained above, Google, Snapchat and Facebook, and other giant social platforms have embraced the advertisement of crypto and crypto-related projects using their platforms. And as they’ve done, more platforms are beginning to loosen up on their restrictions. However, it’s advisable that if you are a crypto ads investor, you should source for alternative platforms where you can get traffics and views from other than these big platforms.
If you want to buy Cardano, you can visit the nearest reputable exchange platform at your fingertips to get as many Cardano as you deem fit. Who knows if you haven’t heard of Cardano, social media platforms could be the first place to start by learning from others’ experiences. This and many more are some of the advantages of allowing crypto advertisements on social platforms.