Netflix likely plans to ban cryptocurrency-related ads when it launches its ad-funded service later this year

According to a Sept. 5 article from The Sydney Morning Herald, which cited local media sources, Netflix has begun discussions with local advertisers in Australia. According to these sources, the streaming giant will ban several types of advertising, including crypto-currency ads.

The report says Netflix will also ban political ads, gambling ads and ads aimed at children. It could also impose restrictions on pharmaceutical ads.

It’s unclear whether the ban on crypto-currency ads will apply only to Australia or to all countries receiving the ad-funded service, such as the U.S., U.K., Canada, France and Germany.

In August, Australia announced its intention to regulate crypto-currencies and related advertising so that customers are “properly informed and protected.“While these rules don’t outright ban crypto-currency ads, it’s possible that Netflix doesn’t want to get out of line with local rules.

At the same time, today’s article does not state or imply that the ban on crypto-currencies will be limited to Australia.

Netflix told The Sydney Morning Herald that its advertising policy is currently undecided. A spokesperson said the company is “still in the early days” of the determination of its advertising model and that “no decision was made.“

However, most sources report that Netflix plans to launch the service as early as November. Contrary to Netflix’s own claims, this suggests that a launch is imminent.

If Netflix goes ahead with the ban, it will join a list of other tech giants that have taken a stand against crypto-currency marketing. Google and Facebook (now Meta) banned crypto ads in 2018, though both companies relaxed their policies in June and December 2021, respectively.

Twitter, meanwhile, has banned crypto ads since 2018. It bans ads for most crypto services outside of centralized exchanges.