Cryptocurrency-related ads have stopped appearing on the Chinese search engine Baidu and Weibo social media platform. The Financial Times of the People's Bank of China (PBOC) was informed today, Feb. 4, that China will further increase regulatory pressure on cryptocurrency and initial coin exchange sites. Offerings (OIC), the Chinese news site Sina reported

In September 2017, China banned ICOs and cryptocurrency exchanges. Some of these companies responded by moving from the mainland to Hong Kong. Now, Sina reports, the Chinese government plans to mitigate this by banning national and foreign virtual currency trading websites .

Meanwhile, the South China Morning Post news site reported that when the terms, in Chinese, "bitcoin", "cryptocurrency", and "ICO" were searched on the Chinese search engine Baidu and the Weibo microblog, no obvious paid sponsored content has come next organic results expected.

Regarding cryptocurrency research in August 2016, it is unclear when they started allowing them again, and they have not confirmed any new crypto block ads. Weibo confirmed that he had banned cryptocurrency-related advertising

In the same vein, Facebook banned cryptocurrency and ICO advertising last week, citing the large numbers of fintech companies on the platform of Facebook "[not operating] in good faith."

Facebook's decision to ban these advertisements was welcomed on the Bitcoin / sub-Reddit page, where users commented on the numerous scams that they have seen for crypto With regard to fraudulent advertisements on Facebook, the user erisiamk wrote: