Share this article
'Russia's Facebook' Eases Restrictions on Cryptocurrency Ads
The most popular social network in Russia is loosening restrictions on advertisements related to cryptocurrency.
By Wolfie Zhao
Updated Sep 13, 2021, 6:48 a.m. Published Aug 9, 2017, 10:00 a.m.
The most popular social network in Russia is easing restrictions on advertisements related to cryptocurrency.
According to local news source Novaya Gazeta, VKontakte – a regional social media platform akin to Facebook – had previously barred ads related to digital currencies and mining. The primary factor for the ban was cited as uncertainty over the legal status of such services in the country.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
VKontakte has now reportedly reversed that policy following legal consultations and, from August 8, clients will be allowed to place ads for cryptocurrency exchanges, blockchain services and educational platforms, as well as for industry media sites.
A representative for the social network said:
"For a while, we really did not miss advertising these services because of the uncertain status of the cryptocurrency in Russian law. However, after a number of legal consultations, we revised the risks associated with the presence of such advertising on our site."
Online figures peg the number of registered users of the service at around 400 million. According to data provider Alexa, VKontakte is the most popular website in Russia and the 16th highest-ranked site in the world.
Notably, VKontakte has reported big increases in search traffic focused on bitcoin, ethereum and similar search terms. For example, the site told Novaya Gazeta that searches for "cryptocurrency" are up over 300 percent year-on-year.
The representative went on to clarify that the site wouldn't throw the door open to cryptocurrency-related ads completely, and those that offer sky-high returns on investments will continue to be blocked.
VKontakte image via An147yus/Shutterstock
More For You
L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.
What to know:
2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.
This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.
More For You
Dogecoin breaks support as year-end selling drags DOGE to $0.123
Open interest rose above $1.5 billion, indicating futures traders' continued exposure.
What to know:
- Dogecoin fell 3% to $0.1226 as year-end selling pressure broke a key support level.
- Whale wallets distributed 150 million DOGE, capping rallies despite oversold conditions.
- Open interest rose above $1.5 billion, indicating futures traders' continued exposure.
Top Stories
