”You can sell Bitcoin, but you can’t advertise it”: Regulators crack down on cryptocurrency advertisements

<p>Advertising is essential for any business, whether through word-of-mouth for small firms, print media, or television commercials. Ads in the Internet age are largely focused on Google, Facebook, YouTube, Twitter, Instagram, and third-party websites.</p> <p>"Sell the sizzle, not the steak," as the phrase goes.</p> <p>However, advertising has become a luxury that is being snatched away from bitcoin businesses around the world. "You can sell your Bitcoin, but don't tell anyone," regulators and certain advertising platforms appear to be repeating.</p> <p>The crypto ad cleanup has reached Singapore, Spain, and the United Kingdom.</p> <p>The most recent infringement on the freedom to market Bitcoin businesses occurred in Singapore. The Monetary Authority of Singapore (MAS), the country's central bank, recently established new crypto advertising guidelines. The Malaysian Anti-Money Laundering Commission (MAS) has prohibited the promotion of any cryptocurrency items in public areas. In one of the strongest crackdowns to date, these range from billboards to social media.</p> <p>Is it the basis for prohibiting cryptocurrency advertisements? They trivialise a dangerous endeavour.</p> <p>According to MAS:</p> <p>DPT service providers shall not represent DPT trading in a way that minimises the substantial risks of DPT trading, and they should not promote their DPT services in public locations in Singapore or through any other medium geared at the general public in Singapore.</p> <p>DPTs are digital payment tokens, or simply any other type of cryptocurrency. Exchanges, wallets, brokers, and other Bitcoin firms are no longer permitted to advertise on "public transportation, public transportation venues, broadcast media or periodical publications, third party websites, social media platforms, public events, or roadshows."</p> <p>Bitcoin firms can only advertise their products through their official social media accounts, and even those posts must follow certain guidelines. They are also barred from utilising social m