Google To Remove All Crypto Mining Extensions From Chrome's Store

  • Google is removing all cryptocurrency mining extensions from its Chrome web store, as about 90% extensions fail to comply with policies
  • Google's move follows a ban on cryptocurrency-related ads, enacted by various tech platforms.

Google is going a step further in improving user experience on its Chrome browser. After recently announcing a ban on crypto-related ads, the company has now publicised it will remove cryptocurrency mining extensions from its Chrome Web Store.

Crypto Mining Extensions To Be Removed

On April 3, the tech company announced that it would block all Chrome browser extensions mining cryptocurrencies with user's machines. Google has in the past taken down few illicit extensions that secretly drained victims' hardware resources without their consent.

The company's announcement stated:  

“Until now, Chrome Web Store policy has permitted cryptocurrency mining in extensions as long as it is the extension’s single purpose, and the user is adequately informed about the mining behavior. Unfortunately, approximately 90% of all extensions with mining scripts that developers have attempted to upload to Chrome Web Store have failed to comply with these policies, and have been either rejected or removed from the store,”

Google

Extensions related to blockchain technology and cryptocurrencies, other than mining, fall under the standard quota and will be permitted in the Chrome web store.  All existing crypto mining focused extensions will be delisted by July this year.

Google Takes Action Against Cryptojacking

Over the past few months, cryptojacking incidents shot up, forcing some browsers to develop tools that prevent illicit mining scripts from using user's computer resources. Because of minor failures in Chrome's Web store policies, developers have managed to deploy their illicit mining extensions on Google Chrome, one of the world's most popular web browsers. James Wagner, Google’s Extension Platform product manager, said:

“The key to maintaining a healthy extensions ecosystem is to keep the platform open and flexible. This empowers our developers to build creative and innovative customizations for Chrome browser users.”

Google Extension Product Manager

Recently, various tech companies banned crypto related ads from their platforms. These include Facebook, Linkedin, Twitter, and Snapchat. MailChimp - a popular email marketing platform - was the latest one banning crypto ads, reportedly to protect its users from fraudulent activities floating in the crypto space.

Cryptojacking hasn't just been a problem for users.  Large companies and government organizations throughout the world have fallen prey to it. Recently, Tesla’s cloud system was hijacked to mine, and even Google’s DoubleClick Ad Service was used as a vehicle.

Financial Services Giant SBI Holdings Offering XRP Benefit to Shareholders

Michael LaVere
  • Japanese financial services giant SBI Holdings to offer XRP as a benefit to shareholders.
  • Japanese holders on the registry as of March 31, 2020 will be eligible for the cryptocurrency benefit.

Japanese financial services giant SBI Holdings is giving shareholders the option to receive XRP as a benefit. 

According to an announcement made Friday, the crypto-friendly financial institution is allowing shareholders to take their benefit in XRP or a different product offered by subsidiary group SBI Alapromo.

Shareholders with 100 to 1,000 shares in the registry as of March 31, 2020, or shareholders with over 1,000 shares for less than one year will be eligible to choose a benefit of 2,000 yen in XRP ($18) or a selection of health products. Holders who have been on the registry for longer than one year with more than 1,000 shares will be eligible for 8,000 yen in XRP ($74). 

The XRP benefit is restricted to shareholders who reside in Japan. Holders are also required to have an account with SBI’s cryptocurrency exchange VC Trade, which opened in 2018 as the world’s first bank-backed trading platform. 

SBI has a long history of interacting in the crypto space, including forming a joint venture with San Francisco-based Ripple to create a cash transfer app called Money Tap.

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