YouTube Bans Crypto Channel For Promoting Illegal Activities

Video-sharing giant YouTube bans crypto channel Altcoin Daily run by brothers Aaron and Austin Arnold for "encouraging illegal activities."

August 3, 2020 | AtoZ Markets – Another cryptocurrency-related YouTube channel appears to have fallen afoul of the platform’s community policies. According to a July 31 tweet from crypto community members and brothers Aaron and Austin Arnold, YouTube has banned their Altcoin Daily channel with 214,000 subscribers for “encouraging illegal activities.”

The duo twitted, “We are a news/opinion channel. “We have never promoted anything illegal." The brothers have submitted an appeal. 

YouTube reversed the ban two days later

After more than two days in which the channel content was entirely inaccessible for subscribers, Altcoin Daily reported on August 3 that the YouTube had reversed the ban and reinstated that channel. The video-sharing giant YouTube aggressively deleted videos with content related to cryptocurrency later last year.

YouTube removed channels with hundreds of thousands of subscribers or more, including Chris Dunn’s videos. The video-sharing giant Crypto also removed entirely the page of Beadles Robert Beadles. YouTube referred to one of these bans as “an error” during the review process. This year, the Google-owned video-sharing platform shut down the official channel of cryptocurrency news-focused website for “a violation of YouTube’s Terms of Service.

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YouTube faces lawsuits for allowing crypto scammers to use the platform 

YouTube is currently facing lawsuits from different organizations and people for not swiftly removing crypto scam channels on the platform. Apple co-founder Steve Wozniak earlier filed a lawsuit against YouTube for allowing crypto scammers to use his name for promoting fraudulent bitcoin giveaways. Ripple Labs and its CEO Brad Garlinghouse also filed a lawsuit against YouTube for the same reason.

Read also: Wes Levitt Says YouTube & Decentralized Platforms Can Coexist

The CEO of the blockchain company had alleged that the video-sharing platform did not take any actions against channels promoting XRP scams, which has caused their customers to lose hundreds of thousands of dollars worth XRP.

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