Google (GOOG,GOOGL) to Crackdown on Play Store Apps

Google (NASDAQ:GOOG,NASDAQ:GOOGL) announced that the company is cracking down on cryptocurrency mining apps on its Play Store due to the questionable legality of these apps.


The tech giant said that it is eliminating all of these apps from the store as it says it doesn’t allow mining apps on devices. The company added that it will continue allowing apps that remotely manage the mining of cryptocurrency to be on the Play Store.

This means that apps that are designed for mining through the cloud, as well as other methods of remotely mining cryptocurrency will not be removed from the Google Play Store. The move is an extension of a cryptocurrency mining ban that the company put into effect back in April 2018.

InvestorPlace – Stock Market News, Stock Advice & Trading Tips

The move is one of several that are designed to take a stand against cryptocurrency investments and mining due to questions regarding how legal it all is as Apple (NASDAQ:AAPL) made a similar decision last month.

Social media sites have also been adding bans to cryptocurrency services and ads on its sites due to the fact that some of these companies are using deceptive practices to trick social media users to reveal their personal information with the promise of them getting free Bitcoin or other cryptocurrencies.

GOOG stock fell about 2.3% following the news, while GOOGL shares declined nearly 2.6% Friday.

More From InvestorPlace

Compare Brokers

The post Google (GOOG,GOOGL) to Crackdown on Play Store Apps appeared first on InvestorPlace.

Read on The Source