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China’s leading search engine Baidu, Inc. (NASDAQ: BIDU) is reportedly no longer willing to publish advertising for cryptocurrency related ventures. Two of the largest Chinese Bitcoin exchanges, OKCoin and Huobi, have confirmed the ads ban on Friday according to Bloomberg.
With China being the dominant market for Bitcoin, responsible for about 90% of trading, the importance of the ban can’t be overstated. With that being said, the existence of cryptocurrencies is not being censored from search results altogether so as long as it remains like this it’s likely to only hurt new ventures trying to attract attention and break into the market and not ... (read more)