YouTube bans crypto channel for “promoting illegal activities.”

Crypto channel Altcoin Daily run by brothers Aaron and Austin Arnold was banned by the video-sharing giant YouTube for "encouraging illegal activities."

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, their Altcoin Daily channel with 214,000 subscribers was terminated by YouTube for “encouraging illegal activities.” The duo twitted that, “We are a news/opinion channel and have never promoted anything illegal. An appeal has been submitted, the duo added. 

 

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. Channels with hundreds of thousands of subscribers or more, including Chris Dunn’s had videos were removed, while Crypto Beadles Robert Beadles’ page was removed entirely. 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 Bitcoin.com for “a violation of YouTube’s Terms of Service.

 

YouTube faces lawsuits for allowing crypto scammers to use the platform. 

YouTube is currently facing lawsuits from different organizations and people for not taking swift actions to remove 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. 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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Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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