Google bans cryptocurrency ads
Just last month, Facebook announced a new policy banning cryptocurrency and initial coin offering (ICO) advertisements, and Google seem to be now following in its footsteps.

Have you ever seen a Google Ad for a legitimate cryptocurrency... anything? I sure as hell have not. The reason the FBI pressured Facebook and Google to ban crypto ads is because an absolutely overwhelming majority of them are for fake wallets with embedded malware and phishing sites looking to steal exchange account credentials. I know it's a bit of a cliche in this community, but this is actually good news. The last thing crypto needs is new adopters getting robbed because they clicked what looked like the first result of a google search for 'Electrum'.

Cryptos are not down "because" of news like this. A correction has been LONG overdue, news or no news. At most, news acts as a catalyst to kick off a correction that was demanded by the market. Cryptos are down because they rose in price too far, too fast, with no corresponding increase in the utility that underpins their value. They became overbought and overvalued, and now the market is correcting.