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In its latest move against cryptocurrencies, Google announced its plans to remove all bitcoin and cryptocurrency mining apps from the Play Store. The decision comes only a few months after banning the extensions of Chrome that undermine the cryptocurrency.
Google announced the decision to ban encryption apps on the Play Store developer policy page, saying, "We do not allow apps that use cryptocurrency on devices, we allow applications that remotely manage cryptocurrency mining."
Although users can no longer extract their devices directly, Google still allows developers to release applications that allow them to perform mining operations elsewhere, such as on cloud-based computer platforms.
Popularity of cryptocurrency extraction
The popularity of cryptocurrency has increased at the end of 2017 during the upward trend in crypto markets. GPU sales skyrocketed at a point where GPU manufacturers, like Nvidia, saw price increases in their stock due to higher than normal earnings.
The mining process uses a significant amount of computing power and profitability is directly related to the amount of processing power a miner can contribute. Access to highly profitable mining drilling rigs is limited due to the huge costs of large equipment and the cost of electricity.
The decision to ban mining extensions from Chrome and mining apps from the Play Store is likely to be due to the risks they may pose to a device. Both phones and computers can suffer internal damage due to mining if it is not managed properly. The risks of mining are highlighted by the effects of mining malware that has been around public Wi-Fi networks and websites in the last year.
Kaspersky Lab, a Russian security company, recently reported the effects of only two days of drawing Monero on a laptop. They reported that the internal components of the device showed physical damage, including a bloated battery that damaged the outer shell of the laptop.
Not the first move by Google against cryptocurrencies
In March, CNBC reported that Google was putting a ban on all cryptocurrency ads on its platform. The prohibition was similar in structure to the bans placed on advertising encrypted by the giants of social media Twitter and Facebook.
The ban has been implemented with the aim of reducing the number of scams promoted through the Google search platform, but has also banned legitimate companies, such as Coinbase and Binance, from publishing advertisements.
The director of sustainable advertising by Google, Scott Spencer, spoke with CNBC about the decision, saying:
"We do not have a crystal ball to know where the future will go with cryptocurrencies, but we have seen damage or potential damage to consumers that is an area we want to tackle with extreme caution."
Less than a month after banning the cryptocurrency ads, Google announced that they would no longer accept Chrome extensions that undermine the cryptocurrency. Google announced the decision on their blog, saying:
"Starting today, the Chrome Web Store will no longer accept extensions that include cryptocurrency." Existing extensions that undermine cryptocurrency will be removed from the Chrome Web Store at the end of June. Extensions to blockchain purposes other than mining will continue to be permitted. in the Web Store. "
Their last decision to ban the apps that extract the cryptocurrency from the Play Store is probably due to the fear that the app will damage users' computers or significantly slow down the performance of the computer.
Is Google whitelist legitimate cryptocurrency activity?
Rumors emerged at the beginning of this week claiming that Google had followed in the footsteps of Facebook and Twitter, and began to whitelisting some cryptocurrency companies, allowing them to post advertisements. Google ads responded to user requests for cryptocurrency ads on Twitter, saying, "Ads that promote cryptocurrencies and related content can not be advertised through Google Ads."
It remains to be seen whether or not Google will launch policies that allow legitimate cryptocurrency companies to develop apps, extensions, and publish mining ads.
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