'Russia's Facebook' Eases Restrictions on Cryptocurrency Ads ...

Reduce ads limitations related to Russia's most popular social network cryptoconues.

According to local news agency, a regional social media platform similar to Facebook, V Kentite - has already banned advertisements related to digital currency and mining. The primary factor of this ban was mentioned as uncertainty about the legal situation of the country.

VKontakte has now reversed the policy that followed legal counsel and since August 8, clients will be allowed to exchange for cryptocurrency exchanges, blockbay services and educational platforms as well as for industry media sites.

A representative for social networks said:

"For a while, we did not recall the advertisement of these services due to the uncertainty of cryptoolence under Russian law. However, after several legal advice, we have fixed the risk of the presence of such advertisements on our site."

Number of registered users online services in approximately 400 million peg. According to data provider Alexa, VKContact is Russia's most popular website and the 16th most prominent site in the world.

Significantly, there has been a big increase in search traffic by looking at Victacact Bitcoin, Atherium and similar search terms. For example, the site Novaya Gazeta said that the search for "cryptocurrency" is 300% year-over-year over.

It has been made clear to the representative that the site does not have to completely open cryptologic-related advertisements and those who pay high income for investment in the sky will continue to be blocked.

VKontakte Image via An147yus / Shutterstock