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Bitcoin Continues to Slide; Google to Ban All Crypto-related Advertising

Cryptocurrency NewsMar 14, 2018 01:06AM ET
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© Reuters. Bitcoin continued to slide on Wednesday

Investing.com – Bitcoin continued to slide on Wednesday, as Google is reportedly cracking down on cryptocurrency-related advertising.

Bitcoin was trading at $9,114.9 by 12:15am ET on the Bitfinex exchange, down 2.43% over the previous 24 hours.

Ethereum, the world’s second largest cryptocurrency by market cap, was down 2.15% at $691.99 on the Bitfinex exchange.

Ripple’s XRP token, was up 1.25% to $0.78061 on the Poloniex exchange.

Meanwhile, Litecoin slipped 0.80% to $174.59.

In a company post, Google (NASDAQ:GOOGL) said it updated its financial service-related ad policies recently and would no longer allow any crypto-related content to appear across any of its ad platforms.The news came after a similar ban by Facebook earlier this year.

"We don't have a crystal ball to know where the future is going to go with cryptocurrencies, but we've seen enough consumer harm or potential for consumer harm that it's an area that we want to approach with extreme caution," said Scott Spencer, Google’s director of sustainable ads.

This update would become effective in June.

Elsewhere, comments by a Japanese government official gathered some attention as he said he would request a debate about global crypto regulation during the upcoming G20 meeting, which is scheduled to take place next month in Agentina.

The official added that given the explosive growth of the digital currencies since last year, it is normal to have a discussion on the speculative risks of them and their impact on the global financial system.

Bitcoin Continues to Slide; Google to Ban All Crypto-related Advertising
 

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Tim Robson
Tim Robson Mar 14, 2018 1:56AM ET
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Bitcoin and other crypto-currencies have been ruined by fraud, deception and greed! Up until this year it was a good investment and it worked great, now its all controlled by people pumping and dumping, exchanges making millions with terrible customer support, high fees and scandals. With regulation getting tighter, is there really a future for crypto-currencies?
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