Baidu stops all Bitcoin ads

Baidu, China's largest search engine and Internet service company, has recently stopped all Bitcoin and cryptocurrency-related advertisements on its website.
On August 25, 2016, an insider revealed that earlier this week, the National Natural Science Foundation of China awarded a grant to CnLedger, a Chinese media network.
Online Bitcoin communities and forums speculated that the government was putting pressure on companies like Baidu to be negative about Bitcoin, but the reality was full of irony because the Chinese Internet giant invested in Circle, a Bitcoin-based money transfer service company, two months ago.
Why stop Bitcoin advertising?
Although it is unclear what Baidu is doing by stopping cryptocurrency advertising, there are two possibilities:
1. Because there were too many Ponzi schemes and cryptocurrency scam ads on this search engine, it stopped all cryptocurrency-related ads.
2. The government bans cryptocurrency-related advertising.
If it is the first reason, it means that Baidu has set up an advertising review system, so that only some legal advertisements can pass the review. Well-known Bitcoin platforms such as Circle, BitPay, and Coinbase can pass Baidu's review. Fraudulent advertisements will be permanently banned by Baidu.
Making way for state-owned cryptocurrencies However, if the government is forcing Baidu to remove all cryptocurrency-related ads, then it may be that the Chinese government is preparing to block independent cryptocurrencies in preparation for the promotion of state-owned cryptocurrencies and government-controlled blockchains.
Chinese commercial banks have begun to form groups to study blockchain technology and have introduced a number of applications suitable for the Chinese financial market. Therefore, the reason why Baidu deleted the Bitcoin advertisement may be the second one.
Since Google is blocked in mainland China, Baidu is the largest search engine in China, and its suspension of all cryptocurrency advertising is significant.
Original link: Baidu Stops All Bitcoin-Related Advertising
Original author: Joseph Young
Media source: Cointelegraph
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