China has banned cryptocurrency advertising on social networks

According to data from the South China Morning Post, major Chinese search engines and social networks, following Facebook, began to block all content that is in one way or another related to cryptocurrency. When entering the phrases “bitcoin”, “cryptocurrency”, etc. into the search bar, users see only news or other notes from journalists.

Advertising has ceased to be displayed in the largest search engine, Baidu, and Twitter’s equivalent, Weibo. Representatives of the latter noted that, indeed, the system blocks all content that mentions anything about digital currency.

Unlike Weibo, Baidu does not comment on its actions. Let us recall that the search platform already removed all advertising content related to cryptocurrency in 2016.

Some experts are inclined to believe that such actions occurred after the ban on initial coin offerings (ICOs) in September 2017. Then the People's Bank of China publicly called such campaigns fraudulent and compared cryptocurrency trading to financial pyramids. After that, almost 90% of local ICO startups returned all investments to their investors.

Recall that last week announced its decision to block advertising content containing information about cryptocurrency and everything connected with it Facebook.