Cryptocurrencies are not affected by the ban on Netflix, and the market value is back to cross the trillion dollar barrier

 Cryptocurrencies are not affected by the ban on Netflix, and the market value is back to crossing the trillion dollar barrier

• Cryptocurrencies have weathered news of the ban on their currency by US broadcasting giant Netflix (NFLX) to enter a mass rally, while Bitcoin is approaching resistance levels at $20,000.

• This news was accompanied by the rise of the 100 largest digital currencies during trading today, Tuesday, September 6, while the market value during this day reached a value of 1 trillion dollars, with gains close to 60 billion dollars within a few hours.

Netflix ban on cryptocurrency

Netflix announced in July that it would launch a cheaper subscription class featuring commercials, and in return, Netflix would bring digital commercials onto the ad-based streaming service, in a possibly desperate attempt to boost revenue.

Broadcasting giant Netflix has reportedly banned commercials related to cryptocurrencies on its ad-supported subscription category, which is set to launch in November ahead of schedule.

The Sydney Morning Herald said that Netflix has decided to reject all advertising campaigns related to politics, gambling and cryptocurrency on the new subscription category.

According to the news, the new package will also not display advertisements selling products to children, and the same sources indicated that restrictions on pharmaceutical advertisements are also being considered.

Netflix has raised the schedule to launch its cheaper ad tiers until November to compete with Disney+, which is launching its own ad-based plan on December 8.

Netflix's new subscription tier will go live on November 1 in several countries, including the US, Canada, UK, Germany and France.

With global subscribers declining in consecutive quarters, Netflix announced in July that it would launch a new ad-supported service to boost revenue.

In the second quarter, the streaming giant lost 970,000 paid subscribers after losing 200,000 subscribers in the first three months of 2022, and in the face of slowing revenue growth, Netflix revealed in June that it would cut costs to keep its margins at 20%.

Netflix is ​​not the only organization banning cryptocurrencies

Due to regulatory scrutiny, crypto bans are nothing new to the digital asset industry, as in 2018, social media giant Meta previously banned digital ads across its platform before bringing them back later in the year.

In 2021, Google's Alphabet company lifted the ban on crypto-related ads, allowing exchanges and wallet operators to once again promote their services on the world's largest search engine.