Home News Ad restrictions won’t impact crypto demand, Binance CEO says

Ad restrictions won’t impact crypto demand, Binance CEO says

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The expanding limits on crypto marketing, according to Binance CEO Changpeng Zhao, popularly known as “CZ,” would not affect demand.

During his interview with CNBC, CZ stated that physical crypto adverts, as well as crypto ads in general, have had little impact on user growth and that they have only recently become prevalent. According to him, “word of mouth” marketing is responsible for the majority of cryptocurrency acceptance.

He also stated that traditional advertising platforms such as Google and Facebook had previously refused to allow crypto adverts. As a result, it’s evident that advertising has little impact on crypto acceptance or demand. He went on to say that a slew of regulatory crackdowns on crypto advertisements simply serves to demonstrate the rising demand. CZ stated:

“A crackdown on crypto advertising is unlikely to have much of an impact on demand, as the majority of crypto users come through word-of-mouth referrals.”

War against misleading crypto ads continues

The CEO’s remarks come in the wake of a flurry of new restrictions and actions imposed by several governments in recent weeks. Singapore recently established new crypto company standards that restrict crypto advertising in public locations. The Singapore Monetary Authority has also prohibited crypto service providers from establishing crypto ATMs. Several crypto ATMs in the country were closed as a result of the verdict.

The Advertising Standards Authority in the United Kingdom continues its war on misleading crypto promotions by banning two adverts from prominent crypto trading platform Crypto.com. On the other hand, the Spanish government is considering new laws for crypto ads.

Regulators have expressed worry about the misleading content of crypto marketing. In which most crypto firms are accused of emphasising large profits while downplaying the hazards connected with cryptocurrency investments. Another key stumbling block is the majority of countries’ lack of clarity on crypto rules. Which makes crypto marketing even more difficult for regulators to deal with.

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