Advertising declarations concerning crypto currency have banned to appear in the Chinese search system Baidu and social network Weibo. This was due to the fact that the Chinese government is tightening measures against the crypto currency and ICO.
On the Chinese information website Sina, which refers to the Financial Times from the People’s Bank of China (PBOC), it was reported that China will further regulate the sites of crypto-exchange exchanges and primary offers of coins (ICO).
In September 2017, China banned both ICO and crypto-exchange exchanges. Some of the response has moved from the mainland to Hong Kong. Now, according to the Sina website, the Chinese government plans to mitigate the measures by banning internal and external “virtual exchange sites for crypto currency”.
Meanwhile, the South China Morning Post website reported that when people requested Chinese terms such as bitcoin, crypto currency and ICO in the Chinese Baidu search engine and Weibo microbloges, there were no explicit paid content, nor the expected real results.
Despite the fact that in August 2016 Baidu stopped advertising requests related to crypto currency, it is unclear when they were again allowed to resolve. In addition, there was no confirmation of the availability of a new advertising block relating to the crypto currency. Weibo confirmed that they banned advertising related to crypto currency.
In connection with this turn of events, last week Facebook banned the advertising of crypto currency and ICO, citing a large number of Fintech companies on the Facebook platform that “do not work” in good faith. ”
All that indicates that China want to create they own national Crypto-currency (CryptoYuan) and put it under PBC control.