• According to Binance CEO, ad limitations will have no effect on crypto demand

  • According to Changpeng Zhao, word-of-mouth marketing accounts for the bulk of crypto demand and user adoption.

    Binance CEO Changpeng Zhao, popularly known as “CZ,” stated that the increasing limits on cryptocurrency advertising will have no effect on demand.

    During his interview, CZ emphasized that physical crypto adverts, and crypto ads in general, have had little impact on user growth, and that they have only recently become prevalent. He claims that the majority of cryptocurrency acceptance is due to “word of mouth” marketing.

    He also stated that for the longest time, main advertising firms such as Google and Facebook did not allow crypto adverts. As a result, it is apparent that advertising does not have a substantial impact in crypto acceptance or demand. He went on to say that the sequence of governmental crackdowns on crypto advertisements simply demonstrates the growing demand. CZ stated:

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

    The CEO’s remarks come in the midst of rising restrictions and a slew of steps taken by various countries in recent weeks. Singapore has imposed new guidelines for cryptocurrency companies, including a prohibition on crypto advertising in public places. The Singapore Monetary Authority has also prohibited crypto service providers from opening crypto ATMs. As a result of this verdict, some crypto ATMs in the country have been shut down.

    The Advertising Standards Authority in the United Kingdom has continued its war on misleading crypto promotions, banning two commercials from famous crypto trading platform Crypto.com. The Spanish government, on the other side, is attempting to implement new crypto advertising restrictions.

    Regulators have expressed worry about the misleading content of cryptocurrency ads, in which most crypto firms are accused of emphasizing huge profits while downplaying the hazards connected with crypto investments. Another important impediment is the lack of clarity in most countries’ crypto legislation, which makes crypto marketing an even bigger issue for regulators.

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