Chinese Search Giant Baidu Stops Bitcoin Advertising

China’s largest search engine, Baidu, has discreetly removed all bitcoin and virtual currency-related advertising from its online portals.
China, the world’s largest market for bitcoin will no longer see bitcoin-related advertising on the country’s most-used search engine Baidu. The search engine giant moved to remove all cryptocurrency advertisements from its online portals this Thursday.
Prominent Chinese exchanges OKCoin and Huobi confirmed the ban to Bloomberg, which claimed that the move was a reaction to the growing number of cryptocurrency-related Ponzi schemes and scams in the country.
A publicly traded company, Baidu is the largest search engine in China and among the top 5 websites in the world. A key and controversial factor for its success in the country is due to its ready cooperation with the Chinese government, a relationship that is frequently criticized by anti-censorship advocates.

This post was published at Crypto Coins News on 26/08/2016.