Russia’s Largest Search Website Yandex Bans Ads for Crypto Services

Russia’s leading search engine, Yandex, has updated its advertisement policy to ban ads related to crypto exchanges, smart contracts, mining activities, and ICOs within Russia. This new policy, effective immediately, aligns with the country’s regulations on cryptocurrencies, following President Vladimir Putin’s law enforcing strict prohibitions on the advertising of crypto services.

According to a statement from Yandex, the ban covers advertisements for crypto exchanges, blockchain services, smart contracts, crypto mining, and initial coin offerings (ICOs). Additionally, ads promoting earnings from these activities are also prohibited. The policy further restricts advertising for services that check crypto wallets and transactions for money laundering activities.

“The new advertising policy is part of Yandex’s broader effort to comply with Russian regulations on cryptocurrency.”

However, Yandex clarified that certain related ads would still be permitted. These include advertisements for physical equipment used in crypto mining and storage, educational articles, training materials, and events related to crypto, mining, and ICOs. Legal consultations on crypto topics are also allowed under the new rules.

For countries outside of Russia, Yandex will continue to allow crypto advertisements, although with some restrictions. Ads in these regions must comply with all local legal requirements and Yandex’s advertising policies. This includes prohibitions on guarantees of quick earnings, promises of successful deals, references to success stories, and claims that crypto transactions are safe and risk-free.

The tightening of ad policies by Yandex contrasts with the approach of its American rival, Google, which earlier this year relaxed its requirements for crypto ads following the U.S. Securities and Exchange Commission’s approval of spot Bitcoin exchange-traded funds.

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