'Russia's Facebook' Eases Restrictions on Cryptocurrency Ads

[tyz]

The most popular social network in Russia is easing restrictions on advertisements related to cryptocurrency.

According to local news source Novaya Gazeta, VKontakte – a regional social media platform akin to Facebook – had previously barred ads related to digital currencies and mining. The primary factor for the ban was cited as uncertainty over the legal status of such services in the country.

VKontakte has now reportedly reversed that policy following legal consultations and, from August 8, clients will be allowed to place ads for cryptocurrency exchanges, blockchain services and educational platforms, as well as for industry media sites.

[darkangel11]

That's great. Another step in showing the world they aren't against technology and freedom.
I'll be watching how it progresses, especially that many Russians are already interested in cryptocurrencies and have invested even when there were rumors of a government ban 2 or 3 years ago.

[phr0stbyt3]

That's a really good news no questions about it recently russia even decided to invest 100 million in bitcoin mining so they can outrange china and seeing this makes me more happy. Russia is not only introducing new potential investors but as also investing in mining which can solve the slow speed issue overtime and reduce the dominance of china

[Beerwizzard]

Who cares? As I know VK is totaly based in the hands of russian authorities. Do you realy expect such corrupted state to support any blockchain projects? At least we can hope it will smehow promote decentralized solutions thru the normal part of russians.

[DaMut]

this is a bit funny for me,
a lot of cons and pros happened in there,
back then,when i learned about cryptocurrency i heard a lot of issue happened in there.
especially they're forbiding their people to trade or doing something related to cryptocurrency,
but,from time to time i always saw many people from that country doing trading and something like that.
and right now something like this ?
just curious what is on their mind ? why forbiding their citizen to do something related this world ?

[BitcoinBallerina]

Why would they restrict crypto? I thought Russia would be more in favor of it based on their ideology, but apparently not.

[Kemarit]

Why would they restrict crypto? I thought Russia would be more in favor of it based on their ideology, but apparently not.

LOL. Russia wants to control everything. The government is authoritarian in nature. That is why they are restricting crypto in general. Even bitcoin and other crypto's are not yet recognized although there has been a back and forth discussions about trying to adopt them last time I checked. They said 2018 but I doubt that will because you can't trust anything coming from Putin's government. I still somewhat skeptics but we have to wait and see because right now I read that they are planning to put up a mining right to rival that of China. I don't know why the sudden U-turn regarding crypto's now. But I will still continue my skepticism though.

[freedomno1]

The Russians like to control a lot of things but that does not mean they will avoid using cryptocurrencies over other possible assets when it is possible to trade, examples include the idea proposed of using crypto to replace the US dollar as a quick and instant means of sending payments and possible rumors around their own coins in a blockchain. It will be a fun time, the easing of cryptocurrency ads is just one of the steps on the route forward towards mainstream usage and adoption and for that I cheer.

[Lampaster]

Why would they restrict crypto? I thought Russia would be more in favor of it based on their ideology, but apparently not.

LOL. Russia wants to control everything. The government is authoritarian in nature. That is why they are restricting crypto in general. Even bitcoin and other crypto's are not yet recognized although there has been a back and forth discussions about trying to adopt them last time I checked. They said 2018 but I doubt that will because you can't trust anything coming from Putin's government. I still somewhat skeptics but we have to wait and see because right now I read that they are planning to put up a mining right to rival that of China. I don't know why the sudden U-turn regarding crypto's now. But I will still continue my skepticism though.

Putin crypto currency is the salvation. At the moment it is the only way to get into the Russian economy of the investment. I'm sure that Putin will try to control all transactions and to take with them a large tax. I expect nothing less from a dictator not welcome.

[Pab]

I can tell you that one of VK managment member is also director of Bitcoin Russia.Very dangerous man with strong relation with KGB.Any regim wants to controll money,you see that also all that westerness democratic countrys,how govs are fighting to controll money.But Russia will wake up one day,that generation is not buying storys about WW2 war glory and westerness evils,thay see his mega rich leaders and thay simply want have normal life