Google lifts ban on cryptocurrency advertising

Cryptocurrency prices extended losses Tuesday, jeopardizing a recent resurgence.

Bitcoin, which popped above $6,800 last week, is looking at back-to-back losses. The 48-hour selloff in the world’s largest digital currency has eroded more than half of the Sept. 19 to Sept. 22 rally.

In Tuesday trading, a single bitcoin  was worth $6,391.02, down 3.6% since Monday at 5 p.m. Eastern Time on the Kraken exchange.


Google lifts crypto ad ban

Tech-giant Google said Tuesday it has lifted its cryptocurrency ad ban to allow regulated exchanges in both the U.S. and Japan. In a , Alphabet, the parent company of Google said: “Advertisers will need to be certified with Google for the specific country in which their ads will serve. Advertisers will be able to apply for certification once the policy launches in October.”

The initial ban, which was announced in March, was targeted at products such as initial coin offerings, or ICOs, capital raising tool for crypto ventures, due to ongoing fraudulent activity involved in the unregulated markets.

Altcoins slump in Tuesday trading

Altcoins, or coins other than bitcoin, are bearing the brunt of the Tuesday turnaround with some showing double-digital losses in early trading. The XRP  coin that runs on the Ripple protocol has had an up-and-down few sessions, as financial institutions have begun to show interest in its payment product xRapid, that Nigel Green, founder and CEO of deVere Group said will be a game-changer that could see the price of a single XRP coin his $1.

“XRP will go on to gain more traction than many of its rivals because of its unique features, technologies and problem-solving capabilities,” he wrote.

“Many of these unique characteristics enable it to help businesses, including real estate and tech firms, to save money and speed up and add more security to transactions,” he said.

However, the XRP coin  wasn’t faring so well Tuesday, last trading at 45 cents, down 13.2%.

Ether is threatening to trade back below the psychological $200 level, down 10.1% at $210.92, Bitcoin Cash  has lost 7.7% at $431.70 and Litecoin  was down 3.7% to $56.27.


In futures trading, the Cboe Global Markets Group Inc.’s October contract finished Tuesday down 3.7% at $6,370 and the CME Group Inc. September contract ended the day down 4% at $6,355.


Providing critical information for the U.S. trading day. Subscribe to MarketWatch's free Need to Know newsletter.