Recently we wrote that China intended to stop the total ban on ICOs and cryptocurrencies. However, according to the latest data, the ban on the digital currency is expanding instead.
The Chinese government banned the display of advertising or sponsorship content associated with Bitcoin and other cryptocurrencies in social networks and search engines. Now the search queries like "ICO", "crypto" or "Bitcoin" will show only corresponding news. According to the SCMP, cryptocurrency ads have disappeared from the Baidu search engine and the Weibo social network.
Representatives of Weibo confirmed that all advertising related to the cryptocurrency was really blocked, however, Baidu did not comment on the situation. It should be recalled that Facebook and Instagram also seized crypto and ICO advertising. As the companies said, ads must be reliable and win people's trust.
According to local media, China intends to completely close access to domestic and foreign websites related to crypto trading and ICOs, in order to prevent financial risks. Internal cryptocurrency exchangers have already been closed, mining and trading are banned, but this hasn't stopped people from accessing foreign sites. Therefore, a further tightening with regard to cryptomarkets and trading is expected.
This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.