Thursday, February 1, 2018

FB Ads No Crypto and ICO - Facebook Bans Ad Serving Related to Cryptocurrency and ICO

FB Ads No Crypto and ICO - Facebook Bans Ad Serving Related to Cryptocurrency and ICO - Facebook Inc. prohibits advertisements that promote cryptocurrency or digital currency and Initial Coin Offering (ICO) in its social media network because it is considered "related to fraudulent and misleading promotional practices".

In the official Facebook post blog, the social media company with 2 billion users is still sorting out which ads are considered misleading and companies that are not beritikad either. Ads that offer crypto products, including coin and binary options offerings, will be banned on Facebook and Instagram, which is still a Facebook subsidiary.

FB Ads No Crypto and ICO - Facebook Bans Ad Serving Related to Cryptocurrency and ICO
Facebook exemplifies banned ads like "use your pension funds to buy bitcoins". Another prohibited form is binary option trading ads.

Read this to : CEO Riot Blockchain Predicts Price BTC in 2019 is $50,000 After Winning 500 BTC in Auction

"We want our users to continue learning and discover new products and services through Facebook advertising without worrying about being cheated," Facebook said.

Earlier this month, Facebook CEO Mark Zuckerberg said he was studying the potential and consequences of crypto. The crypto players consider this as a positive signal and ignore the other side. And Mark is also considering the negative consequences.

Since bitcoin fever has struck, ads on Initial Coin Offering (ICO) offerings are becoming more widespread. Most of these companies have no real business behind it. US regulators, the US Securities and Commerce Commission, recently obtained court permission to freeze ICO scams by AriseBank.

The US Commodity Futures Trading Commission also issued a summons letter on December 6 to the Bitfinex and Tether crypto companies. Tether claims their digital coins are secured by their dollar deposits, where 1 tether = 1 dollar. It is estimated there are US $ 2.3 billion of the world's tether coins but regulators suspect Tether does not have that much money reserves to guarantee the value of his digital coins.

Bitfinex, the largest bitcoin trading company, and Tether is led by the same person, Jan Ludovicus van der Velde. Tether Director Phil Potter is also chief strategy officer at Bitfinex. By the end of 2017, there is a suspicion that there is engineering between the two to increase the price of bitcoin.

Other article : What is Blockchain and How it Works So Far in The Cryptocurrency Market

On today, the price of 1 bitcoin fell 8.55 percent to US $ 10,151.7, according to data. Based on Bloomberg data, bitcoin had dropped 31 percent to US $ 9,817 this morning. Tether also fell 0.98 percent today. Almost all crypto fell today, Ripple corrected 10.89 percent and Ethereum minus 6.84 percent.