Finance Industry Labels Google’s Crypto Ad Ban ‘Unfair’

Jordana Sacks
  • Businesses and investors alike made their opinions known after Google took the drastic step of banning cryptocurrency advertising from its platform.
  • However, the controversial policy failed to impact either bitcoin or altcoin markets, despite fears to the contrary.

Businesses and investors alike have gone on record to critique Google’s decision to ban cryptocurrency advertising on its platform. The policy, which was implemented on June 1st, has been panned as both unnecessary and unfair by numerous commentators.

However, despite fears to the contrary, Google’s controversial decision failed to make itself felt in either the bitcoin or altcoin markets, with BTC/USD sustaining new support and maintaining a level of around $7,500. The pair was trading at the time of writing at $7,453 according to CryptoCompare.

Prices were seen to increase markedly over Saturday and Sunday, at one point jumping almost $400 to highs of $7,750.

The internet leviathan has come under fire from all sides for its choice to ban cryptocurrency ad content while it continues to pursue blockchain technology itself.

As Blackmore Group’s Phillip Nunn points out:

“I understand that Facebook and Google are under a lot of pressure to regulate what their users are reading, but they are still advertising gambling websites and other unethical practices.”

Phillip Nunn

Facebook and Twitter have both adopted similar stances to Google of late, irrespective of Twitter’s own CEO recently forecasting that bitcoin would take its place as a “single world currency” by 2028.

With Google’s stance on blockchain similarly conflicted, Nunn and many others suspect a targeted move akin to that of Facebook – one intended to clear the way for its own centralised virtual asset.

The CEO explains:

“I suspect the ban has been implemented to fit in with potential plans to introduce their own cryptocurrency to the market in the near future. Removing other crypto adverts allows them to do it on their own terms.”

Phillip Nunn

UK disruptor bank Revolut also added its voice to the ban’s detractors, with its head of mobile Ed Cooper pointing out that the policy fails to distinguish between legitimate companies and proverbial bad apples:

“Unfortunately, the fact that this ban is a blanket ban will mean that legitimate cryptocurrency businesses which provide valuable services to users will be unfairly caught in the crossfire.”

Ed Cooper

Featured image from Max Pixel

BSV Surges 80% As Craig Wright Files Copyright Registration for Bitcoin Whitepaper

Craig Steven Wright (“CSW”), the Australian computer scientist and self-proclaimed inventor of the Bitcoin protocol, has claimed that the US Copyright Office recently awarded him a copyright registration for being the original author of the Bitcoin whitepaper.

According to CSW, he has also been granted a copyright registration for writing “most of the original code” used to implement the Bitcoin blockchain network.

Commenting on the matter, DecryptMedia revealed that a spokesperson had sent a press release to the news media outlet, stating:

 

This is the first government agency recognition of Craig Wright as Satoshi Nakamoto, the creator of Bitcoin.

 

Meanwhile, CoinGeek reported that the registrations (allegedly) “issued by the US Copyright Office recognize Wright as the author” of both the initial Bitcoin codebase and the cryptocurrency’s whitepaper, which was published after the code was released.

Wright Has Only Submitted A Claim, Has Not Received Any “Recognition”

As pointed out by DecryptMedia, Wright’s claim that he has been granted “government agency recognition” would appear questionable. It seems that Wright has only registered a claim with the Copyright Office, which any individual or organization can submit.

At this point, the only thing that can be confirmed is that Wright paid a $35 fee in order to file an application which requests that he should be granted US copyright registrations for the authorship of the Bitcoin whitepaper.

Registering A Copyright Only Requires “Filling Out A Form”

As explained by Jerry Brito, Director at Coin Center, registering a copyright only requires filling out a simple form. Moreover, the US Copyright Office does not conduct an investigation, in order to determine the validity of the claim, Brito noted. The Office is only responsible for “registering” all claims submitted.

The Coin Center Director also clarified that copyright registration does not, in any way, mean or imply “recognition of authorship.” In statements shared with DecryptMedia, Brito further explained:

 

[CSW’s copyrights claim and application are] simply recognition by the Copyright Office that someone is claiming authorship. Registering a copyright is a simple as filling out a form with your claim... It would be up to a court to decide if a copyright registration is based on fraud or not.

 

Bitcoin SV Surges Nearly 80%

Soon after CoinGeek reported that CSW had received copyright registrations for being the author of the Bitcoin whitepaper, the price of Bitcoin “Satoshi Vision” (BSV) surged by nearly 80% according to CryptoCompare data.

BSVUSD