The cryptocurrency industry has been hounded by ad bans in recent times, with Google, Twitter, and other platforms disallowing crypto ads. Google Chrome mining extensions have not gone unscathed either.
If LinkedIn co-founder Eric Ly is to be believed, however, cryptocurrency traders should not be alarmed. He has stated that he believes that the prevalent crypto ad ban is a temporary situation. Instead of considering it as a policy that is set in stone, he thinks that it is the result of entities – including governments – leaning toward the conservative side.
Earlier this month, the New York Attorney General sent out a questionnaire to cryptocurrency trading platforms, looking into the details of their operations. Many believe that this is the beginning of strict regulations.
Ly, however, says that he believes “that the ban is fundamentally around just kind of a conservative, protective measure that these platforms have to not have to be entangled with the answering the SEC’s potentially interesting questions, which they don’t have to deal with.”
That being said, the businessman’s confidence seems to be based on his own opinion and his alone – for now. Officially, LinkedIn has not declared where it stands with regards to cryptocurrency ads.
Aside from online platforms, banks have taken a negative stance against cryptocurrency. In South America, Chilean banks have blocked trading platforms, rendering their businesses inoperative. In Canada, the Bank of Montreal has blocked all cryptocurrency transactions.