Russia’s largest search engine Yandex bans crypto ads

Yandex bans ads for crypto exchanges, smart contracts, mining, and ICOs in Russia.
Ads for mining equipment, educational content, and legal advice are however exempted.
Yandex will allow crypto ads outside Russia with strict compliance to local regulations.

In a significant shift reflecting stringent regulatory measures in Russia, Yandex, the country’s largest search engine, has updated its advertisement policy to prohibit ads related to cryptocurrency.

The new policy, which takes effect immediately, aligns Yandex’s operations with recent legislative changes enacted by President Vladimir Putin.

Crypto exchanges, mining operations, and ICO ads banned

Under the updated policy, Yandex has imposed a broad ban on advertisements for crypto exchanges, blockchain services, smart contracts, mining operations, and ICOs. This also extends to any promotional content related to earnings from these activities and services that check crypto wallets and transactions for money laundering.

The decision underscores Yandex’s commitment to adhering to Russia’s strict regulations governing cryptocurrency advertising.

However, the new rules do allow for certain exceptions. Advertisements for physical equipment used in crypto mining and storage, educational content, training materials, and events related to cryptocurrency, mining, and ICOs are still permitted. Additionally, Yandex will allow ads for legal consultations concerning crypto matters.

This nuanced approach ensures that while the platform curtails promotional activities related to cryptocurrency investments, it continues to support educational and legal aspects associated with the sector.

For regions outside of Russia, Yandex maintains a more lenient stance on crypto advertising, though ads must comply with local regulations and Yandex’s policies, including prohibitions on guaranteeing earnings and claiming risk-free transactions.

This international flexibility contrasts with the stricter domestic regulations, highlighting the varying global landscape for crypto-related advertising.