According to the CEO of the Binance cryptocurrency exchange, the crypto sphere does not need to be concerned about a drop in demand for digital currencies due to the ban on cryptocurrency advertising.
The major avenue for marketing cryptocurrencies, according to Changpeng Zhao, is information transmitted individually from person to person. As a result, advertising bans enacted by various governments will have no impact on the growth of the crypto market’s user base.
Binance’s CEO also pointed out that Facebook and Google prohibited ads a long time ago and that this had no impact on cryptocurrency adoption. On the contrary, it has piqued the public’s interest, with cryptocurrency searches rising to the top of Google Trends.
Remember that this statement from the world’s largest cryptocurrency exchange CEO was made in response to recent events.
Singapore has made it illegal to advertise cryptocurrency in public areas. Several cryptomats have been shut down. In addition, bitcoin advertising was once again banned in the United Kingdom. On Crypto.com, it was illegal to display two advertisements simultaneously.
Regulators are concerned that advertisements may deceive consumers by downplaying hazards and promising mountains of riches. Furthermore, the regulation of cryptocurrencies is still unclear in many countries. These do not bode well for the approval of blockchain project marketing.