Binance CEO says growing restrictions on crypto ads will not impact
The CEO of Binance exchange shared his stance on the recent increased restrictions on the crypto advertisement.
Binance is a popular crypto exchange and this exchange is standing at the first position in this crypto industry with its pro level crypto services. Binance is giving its services globally and its CEO is the 11th richest person in the world because of his business with Binance exchange.
On 20 January, Changpeng Zhao, Binance CEO, appeared in an interview with CNBC. In the interview, Zhao shared his point of view on the recently increased restrictions on crypto-related advertisements.
According to Zhao, crypto advertisements in any medium do not have much impact in reality on the adoption of this industry. So it will not impact the user’s growth in this industry. Instead, he believes that crypto adoption is surging because of word-of-mouth advertisement/discussion.
Clampdown on crypto advertising is unlikely to have much of an effect on demand, says @binance CEO Changpeng Zhao pic.twitter.com/K5EtuWyxGz
— CNBC International (@CNBCi) January 20, 2022
Binance CEO also emphasized that leading advertising platforms like Facebook and Google have already had restrictions on crypto advertisement for a long time but still the growth in the users in the crypto industry is surging rapidly.
Further Zhao noted that such increasing restrictions on the crypto-related advertisement by the government authorities are just a clear indication that the industry is moving toward huge adoption.
Binance CEO added:
“Clampdown on crypto advertising is unlikely to have much of an effect on demand, as most of the crypto users come from word-of-mouth promotions anyway.”
This statement of Binance CEO is much important to note and also the same time it also gives confidence to the crypto industry that such restrictions are indications of growth & adoption of this industry.
In the last few days the UK, Spain, and Singapore released their new crypto advertisement-related guidelines.
Read also: Ripple Boss urges people to stay away from XRP Ponzi schemes