With China Tightening Regulations, Crypto-related Ads Reportedly Gone From Local Websites

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It would appear that the enforcement of China’s stricter cryptocurrency and Initial Coin Offering (ICO) regulations have affected even cryptocurrency-related advertisements online.

Reportedly, Chinese search engine Baidu and social media platform Weibo have stopped posting the ads, although organic search results on cryptocurrency can still be found on their sites. This follows a string of events showing China’s crackdown on cryptocurrency exchanges. Back in September 2017, the Chinese government banned both ICOs and cryptocurrency exchanges, which drove some businesses engaged in these transctions to move to Hong Kong.

According to reports by Sina, the mainland government is now focusing on mitigating these kinds of relocation by altogether banning “virtual currency exchange websites,” both foreign and local. Weibo has confirmed the ban of the said online ads, while Baidu had already done so back in 2016, although there is no clear confirmation as to when they started posting them again prior to this most recent ban.

 

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