Google will allow advertising of crypto-currencies in Japan and the United States

  • And
  • +A

While traditional financial institutions are waiting for the evening U.S. Federal reserve meeting and rate hike, the market of crypto-currencies is influenced by their own specific “regulators” – the big players and advertisers.
Thus, it became known that the fall in the value of Bitcoin triggered by the Manager of Mt.Gox, Nobuaki Kobayashi (Nobuaki Kobayashi), which abolished the BTC and BCH for $230 million in the period from March to June 2018.
Mt. Gox was the largest bitcoin exchange, the first legal crypto currency exchange in the world, but after a hacker attack about 4 years ago was forced to declare bankruptcy after lost 850 thousand BTC. At that time, the amount of damage was approximately $500 million, now it exceeds $5 billion.
As it became known only now, managing Mt.Gox was selling assets after a meeting of the creditors of Mt.Gox on March 7th. At that time Bitcoin was trading around $10000 per coin, but immediately turned to decline and fell below $7000. In just 4 months, has sold 24 658 25 331 bitcoins and Bitcoin Cash.
Could such volumes to crash? The Manager Mt.Gox claims that tried to sell digital currency so as not to affect their price, but on such a small capitalization market, as the cryptocurrency, making it very difficult, even unlikely.
Because exchange Mt.Gox has launched bankruptcy proceedings, the sale of the remaining assets is necessary in order to protect the interests of creditors. It should also be understood that since the exchange has launched a program of refunds for private and corporate clients in the cryptocurrency, the future sales of these players can lead to repeated collapse of the value of cryptocurrencies, as the volume sold of digital assets could reach $1bn.
In addition to the sales of big players, the value of bitcoin and altcoins is strongly influenced by the ban on advertising adopted by many companies this year. But I think the opinion on this point among advertisers is beginning to change. Although, it is possible that he played a role and a kind of greed and the desire to make a profit through advertising.
Google announced a change in the rules regarding the advertising of financial products and services. From October 2018 the services for the exchange of cryptocurrency in the USA and Japan will get the permission for placing ads on the sites of the company. The choice of countries is not accidental that Japan and the United States then passed in the way of regulation of the industry.
The state organization that oversees the banking industry, such as the FSA in Japan SEC in US, initiate checking kryptomere and tightening the rules of their work, make laws and, of course, it is in these countries will be the strongest regulation, and the cryptocurrency industry will become the most civilized and powerful.
______________
Olga Prokhorova,
Expert
“International Financial Center”