The most famous social network in Russia, VKontakte, which would be the Facebook of the country of Vladimir Putin had previously banned advertisements related to crypto coins and mining due to the uncertainty about the legislation and the general legal situation on these in the country restricting this Way the projection of cryptography in the country. The Russian network has been rethought and exchange ads can be placed between Cryptocurrencies, Blockchain, educational platforms and business businesses, as long as it is a responsible advertising, without false promises or guarantees since August 8, 2017, after the clear message of the Administration of VKontakte:
“We did not allow the advertising of these services due to the uncertainty that the world of cryptography produced in Russian legislation, but after several legal consultations we reviewed the risks associated with the presence of such advertising on our site.”
The figures show us the importance of this for the world of the crypto coins since VKontakte has more than 400 million users. In addition, according to the Alexa ranking, VKontakte is the most popular website in Russia and the 16th in the world. And as we were commenting days ago, countries are getting closer to the crypto coins, the announcement comes when Russian companies and authorities are increasingly approaching Blockchain and crypto coins. The Russian Ministry of Telecommunications expects full implementation of Blockchain legislation and cryptographic services, in general, to take place no later than 2019, since as is the case in every country in the world, there is no specific Blockchain regulatory legislation yet, But does not mean that this technology is prohibited.
As it would happen, as we told you earlier, in China, Russia is also approaching its own crypto coin, the Bank of Russia has notably softened its stance regarding cryptography. In 2014, the Russian “mega-regulator” issued a warning against Bitcoin. This stance, however, has changed markedly and numerous Central Bank officials have reiterated that the regulator has never banned the crypto coins, in fact, the Bank of Russia is working on an ICO. Unregulated ICOs, which obviously increase the number of fraudulent schemes of this type in the country along with the ignorance and ignorance of the Russians, who, according to a NAFI survey, among 1600 respondents in 42 Russian regions, alone 28% know that it is cryptography and that they are the crypto coins.
VKontakte clarified that the site would not open the door to the ads related to the cryptography completely, besides that would prohibit and block, as it had been doing so far to all those ads that promise very high returns in their businesses and obviously to all those entities or services Banned in Russia, but as we can see, scams continue to boom taking advantage of this great novelty booming cryptography in Russia and the rest of the world.