Changpeng Zhao: Advertising restriction will not harm cryptocurrencies

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The CEO of the Binance trading platform, Changpeng Zhao, believes that the industry will tolerate restrictions on paid advertising for cryptocurrencies as word-of-mouth marketing works better.

Chapter Binance Changpeng Zhao declaredthat the trend, which is now being watched with concern by the owners of cryptocurrency companies, associated with the gradual global implementation of restrictions on cryptocurrency advertising, will not affect the demand for digital assets.

He emphasized that the advertising of cryptocurrencies on the Internet and the physical world in general did not have a big impact on user growth. Only in the last few years has it become a tool for promoting cryptocurrencies:

“Limiting ads is unlikely to have much of an impact on demand as most crypto users enter the market through word of mouth marketing.”

Namely, when satisfied users tell their surroundings why they like cryptocurrency or a service related to it.

The head of Binance added that key advertising services, such as Google and Facebook, for a long time did not allow advertising of cryptocurrency companies – and this did not affect the speed of the industry in any way.

This means that paid advertising does not play a significant role in the adoption of cryptocurrencies, Zhao is convinced. And the emerging regulatory restrictions for crypto-advertising only point to the growing demand for crypto-assets.

The Binance CEO’s comments come amid growing restrictions and a series of actions taken by various countries in recent weeks regarding the promotion of cryptocurrency projects.

Recently, U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler called for regulation of cryptocurrency advertising to protect investors from scammers. The Singapore government recently issued new regulations for crypto companies to ban advertising of their services in public places. The Spanish National Commission for the Securities Market (CNMV) is starting to regulate the advertising of digital assets to popular bloggers with over 10,000 followers.

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