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 …
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