China censors cryptocurrencies
A report published by the Hong Kong-based media outlet, South China Morning Post, has alleged that major Chinese search engines and social media platforms have stopped showing sponsored publications and paid ads related to cryptocurrencies.
The report indicates that keywords like 'Bitcoin', 'cryptocurrency' and 'ICO' seem to get predominantly journalistic content when searched on the popular Baidu and Weibo national platforms, while there is an apparent absence of sponsored content.
Weibo has confirmed that currently it does not allow advertising related to cryptocurrencies, while Baidu has not yet made any comment about it.
Analysts speculate that censorship of cryptographic announcements may have begun after the introduction of the PBoC offensive against ICOs in September 2017.
The report came a few days after Facebook introduced new rules banning "ads that promote binary options, initial offers of currencies or cryptocurrencies."
The social media network accuses such ads of "promoting financial products and services that are frequently associated with deceptive or fraudulent promotional practices" stating that "there are many companies that advertise binary options, ICO and cryptocurrencies that do not currently work in good faith" .
The crypto community seems to have welcomed the new Facebook policy, with many Bitcoin veterans viewing social media as an advertising medium adopted by Ponzi schemes and opportunists seeking to capitalize on the speculative boom surrounding virtual currencies will have little intention to offer robust services or platforms.
Source: news.bitcoin.com
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