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Why is bitcoin falling? Has google destroyed bitcoin?
Why is bitcoin falling? Has google destroyed bitcoin?

BITCOIN prices took a hit today following the shock news Google will ban all cryptocurrency and initial coin offering (ICO) ads on its platform. But why is bitcoin falling today?

 (BTC) opened today at £6,553.61 ($9,144.15) amid fears Google’s new advertising policies would impact the popular crypto token. 
As of 9.37am GMT, bitcoin is exchanging hands for £6,415.37 ($8,951.26), down 2.11 percent, according to CoinDesk.
On Wednesday morning, Google announced severe changes to its “advertising ecosystem”, chief among them updated policies on cryptocurrency.
The company said it has been combating fraud, malware and content scammers for the past 15 years. 

The new cryptocurrency ad policies are set to take effect in June.

Google’s announcement reads: “This year, we updated several policies to address ads in unregulated or speculative financial products like binary options, cryptocurrency, foreign exchange markets and contracts for difference (or CFDs). 
“We also updated our gambling ads policies to address new methods of gambling with items that have real-world value (eg, skins gambling).”
The search engine giant claims to have take down more than 3.2 billion ads which violated its policies in 2017 alone.

These ads included sensationalised newsy headlines on marketing material and other malicious clickbait ads by “scammers who have tried to sell diet pills and weight-loss scams.”

Google said: “We suspended more than 7,000 AdWords accounts for tabloid cloaking violations, up from 1,400 in 2016.”

Commenting the Google ban of crypto adverts, Chris Keshian, managing partner and CEO of $APEX Token Fund, said: “We see Google’s actions as progressive – as long as they continue to keep an open mind and don’t tar all cryptocurrencies with the same brush.

“Crackdowns on cryptocurrencies are the best way to weed out irresponsible and fraudulent ICOs and place greater focus on cases against unregistered persons acting as agents, brokers, and investment professionals in the cryptocurrency space.
“This is a key step in cryptocurrencies becoming a mature and stable asset class.

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