Bitcoin

Bitcoin Daily: Google Nixes Ban On Crypto Ads; Crypto Firm Sponsors Houston Rockets

Google has decided end its ban on advertising related to digital currencies, CNBC reported. Beginning in October, regulated crypto exchanges will have the ability to purchase ads in both Japan and the U.S. Even so, CNBC noted that those wanting certification to run ads will have to apply in each nation. Google, however, isn’t the first big tech company to relax its crypto ad banks: In June, Facebook opened the doors for some pre-approved crypto advertising.

The original restrictions for Google date back a few months. They were announced in March and became active a few months later in June. Before the ban was put into action, a representative from Google told CNBC that “we don’t have a crystal ball to know where the future is going to go with cryptocurrencies, but we’ve seen enough consumer harm or potential for consumer harm that it’s an area that we want to approach with extreme caution.”

In other news, SBI Holdings is gearing up for a release of a crypto token that has retail applications dubbed “S Coin,” CoinDesk reported. During a pilot program, the company’s employees will have the ability to make purchases at restaurants and cafes near the company’s Tokyo headquarters. Those using the coin in the trial can top off using a credit card and “other means” through a machine made by Glory, then the value is sent to a mobile device. SBI Holdings created the platform itself through digital ledger technology (DLT) from Orb.

The Houston Rockets have a new official sponsor for the season: a crypto firm called AntPool, the Houston Chronicle reported. The paper reported that the company is seeking to move into the U.S. market. In a statement posted on social media, AntPool Overseas Operations Director Haijiao Li said, “The Houston Rockets are legendary across the globe, and what better way to continue the momentum of our U.S. expansion than partnering with the prolific Houston Rockets basketball club, the No. 1 team in China.”

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