Baidu and Weibo “disappear” paid content of the crypto-currency topic
The Hong Kong news agency South China Morning Post reports that leading Chinese search engines and social networks have refused to publish sponsored messages and commercial advertising crypto-currency, as well as everything that is associated with them.
Chinese journalists claim that on popular local platforms Baidu and Weibo there is practically no paid content of crypto-currency topics.
In the results of the search for key queries: Bitcoin, cryptocurrency and ICO, there are mainly informational publications.
Weibo has already confirmed that the service does not currently allow advertising on the topic of cryptocurrency. Comments from representatives of Baidu have not yet been received.
According to some analysts, the reason for the ban on cryptographic advertising in tightening restrictions on ICO, submitted by the People’s Bank of China in September 2017.
Facebook follows the example of China
Note that the report of South China Morning Post was published just a few days after Facebook banned the publication of ads containing advertising binary options, ICO, and crypto.
The management of the social network explains its decision by the fact that such ads were often used by scammers and unscrupulous players of the crypto-currency market, trying to cash in on the users of the network, deliberately misleading them.
It seems that most of the crypto community welcomes the change in Facebook’s policy. As you know, many veterans of the crypto-currency market believe that social networks have turned into advertising platforms for financial pyramids and various scammers who are trying to quickly cash in on the speculative boom that arose around digital currencies.