The government of this tech - savvy nation earlier announced that it is not willing to take any measures of
a ban on crypto - trading activities.
The global cryptocurrency market is down nearly $ 100 billion following news that South Korea, one of cryptocurrency's biggest markets, is considering
a ban on all crypto trading in the country.
An inter-disciplinary committee on cryptocurrency regulation formed by India's Finance Ministry, the same committee that previously suggested
a ban on crypto, in a more recent report made the following recommendations:
Last week was also disappointing for crypto projects as Twitter announced intended
ban on crypto and ICO - related bans although with limited exceptions that the businesses must be verified to advertise their products and services (the ban includes ban on ads relating to initial coin offerings (ICOs), cryptocurrency wallets, and exchanges).
There was also a huge speculation about Korean likely to put a China - like
ban on crypto trading activities in the country along with the complete shutdown of domestic crypto exchange.
Hopefully, if nothing else,
the ban on crypto ads will help root out fraudulent companies.
The Chinese government is continuing to intensify its crackdown on the cryptocurrency market, Bloomberg reported, and is planning on extending
its ban on crypto exchanges to pursue alternative «online platforms and mobile apps that offer exchange - like services.»
BEIJING (Alliance News)-- South Korea's finance minister on Friday sought to calm the cryptocurrency market after an announcement a day ago that the country's justice ministry was planning
a ban on crypto exchanges, sending prices of digital currencies such as Bitcoin sharply lower.
Facebook's advertisement policy update that imposed
a ban on all crypto - related adverts was not a genuine decision by the company but a result of constant FBI pressure on the social media heavyweight.
So far, 17,000 people have signed a public petition to protest the central bank of India's
ban on crypto - related accounts A Change.org petition for «Mak [ing] India...
Google, the world's largest online advertising provider, announced its own
ban on crypto advertising which will come into effect in June.
Google's
ban on crypto mining extensions is, therefore, one of many recent decisions Google has done to protect their users against a growing number of malicious software.
Here is the bright side though:
A ban on crypto exchanges won't mean the end of digital currency trading.
Pripachkin tells about how detrimental
the ban on crypto ads have been for the cryptocurrency groups.
The world's largest online advertising provider, Google, announced
its ban on crypto based ads which will come into effect in June.
Twitter's
ban on crypto advertising has initiated a sharp fall for Bitcoin, which moved below the 200 - day moving average March 29.
There have been large spread rumors about the government of South Korea imposing a complete
ban on crypto trading.
Facebook issued
its ban on crypto ads in January, claiming the measures were implemented against certain spams and fraudulent money exchange methods were observed on the social media platform.
The ban on crypto - related ads comes with the knowledge that the number of crypto scammer accounts and ads are on the rise in social media.
First, there was
the ban on all crypto - related ads in Google.
A report from Wired said that the reason behind
the ban on all crypto mining extensions was because most of them didn't comply with the usage policy of Google.
After Facebook, Twitter and Google officially announced
a ban on crypto ads in wake of the money laundering and increasing fraudulent schemes online, now it seems things are going the other way round.
While contrary to what the Indian media would have you believe, this is not
a ban on crypto in India and crypto trading is not illegal.
However, after
a ban on the crypto based ads and several ICO campaigns, The Russian Association of Crypto - Currency and Block - Finish (RACIB) and industry associations in Korea and China are now planning to sue Google, Twitter, Facebook and Yandex for putting a ban on crypto ads.
Bitcoin's price fell below $ 10,000 after the policy was announced, signalling that
this ban on crypto advertising will significantly impact the world of digital currencies.
Founded last year in Hong Kong by Changpeng Zhao, the exchange moved its operations to Japan in response to China's
ban on crypto activities last September.
By the end of January, Korea's finance minister stressed the government had no intention of enforcing
a ban on crypto exchanges or trading.
This is an unofficial
ban on crypto trade in India - and cryptocurrency traders as well as cryptocurrency exchanges have been outraged against this draconian decision.
When it comes to cryptocurrency, the need for regulation, and some countries even considering
a ban on crypto - assets, the big issue is illegal activity.
In addition to developments in China, South Korean Finance Minister Kim Dong - yeon reiterated on Tuesday that the government is actively considering an outright
ban on crypto trading.»
In Kazakhstan, however, wants
a ban on crypto currencies: The -LSB-...]
During its quarterly earnings call, Mastercard CFO Martina Hund - Majean said cross-border volume is down due in part to
bans on crypto purchases.
Referring to Facebook and Google's
ban on cryptos, study author Liron Hakim Bobrov issued the following statement:
This is why, when the South Korean government hinted on imposing
a ban on cryptos, crypto markets panicked and surrendered to one of the biggest price crashes.
Not exact matches
Crypto crackdown China, home to the world's biggest community of Bitcoin miners, is cracking down
on cryptocurrency activity, haling trade of virtual currencies
on domestic exchanges and
banning initial currency offerings.
That's why a number of banks have lined up to announce a
ban on purchasing
crypto with credit cards.
This comes after a
crypto startup has put forward a petition contesting the bank's conditional
ban on cryptocurrency.
September was when China issued an all - out war
on crypto,
banning domestic exchanges and initial coin offerings (ICOs).
Once again, investors should recall that
crypto's most euphoric period came immediately after China issued a blanket
ban on everything
crypto.
photo static.dnaindia.com Of events Wednesday: 3 large companies sue social network for the advertising
ban crypto; European control of the market increases requirements for CFDs; Ford offers a motion control system that uses tokens; Uphold adds support for XRP; Cocoa Corp announced the launch of the platform the Blockchain;
On exchanges is red.
The national Bank of Kazakhstan is considering a
ban on the exchange of
crypto currency for the national currency — Tenge, and mining for
crypto currency, according to local service Sputnik.
Ads
on crypto currency has also disappeared from the Chinese social networking, at a time when life was part of the
ban exchanges kryptowalutowych and ICO.
In late January, Facebook announced a
ban on advertising
on crypto currency, citing «deceptive and fraudulent advertising practices».
Twitter forbade Cryptocurrency associated Ads while MailChimp also
banned Crypto and ICO related promotions
on their platform.
It is unclear whether this is a full
on ban of bitcoin mining or simply a closure of the biggest mining farms, but after
banning crypto exchanges and ICOs, China now seems to be moving towards fully curtailing bitcoin operations.
The latest sign that China's regulators are actively scrutinizing cryptocurrency exchanges, the report further explained that the execution plan came into effect in September last year when People's Bank of China (PBoC) put out its
ban on initial coin offerings (ICO) and ordered closure of fiat - to -
crypto trading.
On the bearish side, we saw Twitter announce plans to
ban crypto advertising and join Facebook and Google's previously announced plans to
ban such ads.
Google stepped forward to
ban specific
crypto ads
on March 13th.
Facebook, Google and Twitter's
bans on cryptocurrency advertising are unlikely to make a sizable dent in traffic to
crypto exchanges, according to SimilarWeb.
Regulatory uncertainty and a sweeping
ban on cryptocurrency advertising have prevented the
crypto market from extending its New Year rally.