All About Adelaide AUS News

Media reported on Netflix plans to ban cryptocurrency advertising

Sep 6

Streaming service Netflix will ban the promotion of cryptocurrencies in the new plan with advertising. This writes The Sydney Morning Herald, citing sources. According to them, the restrictions will also affect videos related to politics and gambling. Interlocutors added that the company is studying the possibility of banning advertising of pharmaceuticals.

In April, Netflix announced the launch of low-cost rates with the support of affiliate videos. Representatives of the service explained the decision by the need to increase income amid a reduction in the number of subscribers. In July, Netflix announced that the rate would launch in partnership with Microsoft. According to The New York Times, Netflix originally planned to launch the new subscription version in early 2023, but allegedly moved the deadline to Nov. 1, 2022. It will become available to viewers in a number of countries, including the U.S., Canada, the U.K., Germany and France.

In June 2018, Google banned advertising of cryptocurrencies and related content. Later, it became possible to promote cryptocurrency exchange services in the U.S. and Japan, but only by certified companies. In the summer of 2021, the search giant lifted the restrictions and allowed to advertise cryptocurrency exchanges and digital wallets for U.S. users.

Recall, in July 2022 UN member organization UNCTAD called on the authorities of countries with developing economies to limit or ban the advertising of cryptocurrencies.