Virtual currencies wiped out $ 60 billion within 24 hours
The leading virtual currency Bitcoin fell to a one-month low; Technology giant Google will block publications related to virtual currencies and join Facebook that made the same decision a month and a half ago.
After Google announced a restriction on advertising in cryptographic currencies. The top virtual currencies lost $ 60 billion in a day, with Bitcoin plummeting more than 7 percent to $ 8,293.57, after falling to a $ 7,700 on Wednesday.
A few days ago, the technology giant updated its policy on the publication of virtual currencies and cryptographic currency issues (ICO) and announced that it would not allow publications on the subject from June. The Company prohibited the publication of such products and services because they are unregulated and fertile ground for fraud. Earlier this week it was reported that Japan plans to demand that participants at the G20 summit step up regulation on virtual currencies and ensure they are not used for money laundering.
Google, the world's leading ad provider, joins in its decision to Facebook's second-largest advertising provider. The social network operator announced a month and a half ago that it would not allow the advertisement of ads promoting digital coins or related financial products. "We've created a new policy that prohibits ads for financial products and services that use deceptive promotional techniques, including binary options, ICO offerings, and digital currencies," said Rob Lerner, product manager at Facebook.