Cryptocurrency Ads Disappear from Chinese Social Media
HomeCryptocurrency NewsBitcoinist.com

Cryptocurrency Ads Disappear from Chinese Social Media

The crypto clampdown continues in China. The latest round finds cryptocurrency ads disappearing from Chinese social media. The last few mo...

Kelta’s Pre-ICO Is Over. The Main Token Sale Started on April 2
Healthcare Insurers Looking to Blockchain to Track Provider Information
Top 7 Cryptocurrency Podcasts That You Can’t Afford to Miss

The crypto clampdown continues in China. The latest round finds cryptocurrency ads disappearing from Chinese social media.


The last few months have not been that gentle to cryptocurrency in mainland China. First, the People’s Bank of China banned the use of ICOs, saying that a whopping 90% of them were fraudulent. Later on, Bitcoin mining came under attack as the national government sought to end the practice and transition miners into new occupations. Now cryptocurrency ads have disappeared from Chinese social media.

Gone in a Puff of Smoke

It appears that crypto mining and ICOs were not the end of China’s war against virtual currencies. People who search for terms like “bitcoin,” “ICO,” and “cryptocurrency” on Chinese social media will draw a blank.

The South Morning China Post is reporting that searches for crypto subjects on Weibo, a social media site akin to Twitter, and Baidu, China’s largest search engine, do not return any results. When contacted, Weibo told SMCP that they no longer allow cryptocurrency ads at all. Baidu did not respond to inquiries, but the message is coming through loud and clear.

China Joins Facebook

The ban on cryptocurrency ads on Chinese social media follows a similar ban instituted by Facebook. Mark Zuckerberg and company claimed that they were combating unscrupulous players from advertising “financial products and services frequently associated with misleading or deceptive promotional practices.”

Facebook

In the case of Facebook, one could say that when God closes a door, he opens a window. Sandy Liang, an operations manager at Bitkan, says the following about Facebook’s crypto ban:

We usually post ads on cryptocurrency or blockchain media. There are a lot of professional choices. Facebook is good for letting newbies know about us. But it’s only one channel. If we can’t use this one in the future, we can use others.

Liang says that they plan on advertising on Reddit and Twitter as they’re good alternatives to Facebook.

Government Control Leaves Few Alternatives

Such cannot be said for China, however. The central government maintains an iron grip on online content. The scope of internet censorship in China is staggering. This means that the ban on cryptocurrency ads will have a greater effect as the number of viable alternative platforms to advertise on is essentially nil.

China cryptocurrency

However, such bans do fall in line with the fact that China is a communist nation where the economy is controlled by the central government. The promise of unbridled economic freedom that cryptocurrency represents stands in stark contrast to the government’s ideology.

Yet China’s loss is other countries’ gains as Bitcoin miners and other crypto-related businesses seek greener pastures elsewhere. Countries like Japan and Singapore are benefitting from the Chinese crypto exodus.

What do you think about the banning of cryptocurrency ads on social media in China? Let us know in the comments below.


Images courtesy of Wikimedia Commons and Bitcoinist archives.

The post Cryptocurrency Ads Disappear from Chinese Social Media appeared first on Bitcoinist.com.



from Bitcoinist.com http://ift.tt/2nACLiy
Name

Bitcoin News,5117,Bitcoinist.com,4741,Cryptocurrencies,4741,Cryptocurrencies Latest News,5117,Cryptocurrency Latest News,4741,Cryptocurrency News,9858,
ltr
item
Cryptocurrency Latest News: Cryptocurrency Ads Disappear from Chinese Social Media
Cryptocurrency Ads Disappear from Chinese Social Media
http://bitcoinist.com/wp-content/uploads/2018/02/wiki-weibo.jpg
Cryptocurrency Latest News
http://cryptocurrencylatest.blogspot.com/2018/02/cryptocurrency-ads-disappear-from.html
http://cryptocurrencylatest.blogspot.com/
http://cryptocurrencylatest.blogspot.com/
http://cryptocurrencylatest.blogspot.com/2018/02/cryptocurrency-ads-disappear-from.html
true
1236144943044321696
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS CONTENT IS PREMIUM Please share to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy