Ban

On Monday, March 20, the White House released a new cryptocurrency trading ban, signed by the President of the United States, Donald Trump, on the Venezuelan state-issued digital currency, the Petro. The document includes a list of sanctions against Venezuela that are presently active.

Just as Facebook and Google recently put a ban on cryptocurrency advertisements, Twitter has been reported to do the same. The ban may take place in the coming two weeks and will forbid the advertising of ICOs, token sales, crypto wallets, as well as crypto exchanges.

Google shocked the cryptocurrency market with its updated financial products policy. According to the announcement, the largest international corporation made up its mind to disable digital currency advertising. At the same time, the Bitcoin value keeps its previous tactics – a gradual markdown.

Facebook’s decision to ban cryptocurrency and ICO related ads will have real implications for entrepreneurs seeking to launch token sales.

A civil servant who had been keeping control on cryptocurrency and taking steps against its speculation joined the majority on Sunday, February 18, a government spokesman reported. The unfortunate man is thought to have experienced a heart attack in his sleep.

Google was asked to prohibit all ads for binary options, cryptocurrencies and initial coin offerings by Canadian and US law enforcement. As Facebook announced their banning of all advertisements concerning crypto trading last week, Google is expected to follow Facebook’s example.

Bank Indonesia has an aggressive attitude towards cryptocurrencies, such as Bitcoin, and has considered banning them. However, BI now plans to launch its own cryptocurrency that should become a competitor to existing coins on the local and international market.

Bitcoin prices tumbled on Thursday, following news that South Korea’s government is considering a ban cryptocurrency trading. While the U.S. appears to have embraced cryptocurrency trading with the introduction of futures by the CME (Chicago Mercantile Exchange) and the CBOE (Chicago Board of Options Exchange), which are regulated by the CFTC and SEC, South Korea’s Justice minister Park Sang-ki said the government was preparing a bill to completely halt trading of bitcoin or other digital currency on domestic exchanges.

Cryptocurrency is quite a controversial industry. While some eagerly accept its disruptive potential for the entire financial sector, some (mostly, governments as they can’t regulate it) look quite suspiciously at it or even try to ban it. But how can you ban something you can’t control?