Crypto Currency Market Bleeds as Facebook Bans ICO & crypto ads

Updated On Jan 31, 2018 by Cameron Bishop

All major crypto currencies are on a downhill at the time of writing this article, following an announcement banning binary options and crypto currency advertisements by the social media platform provider Facebook. Bitcoin (BTC) has fallen below the psychological level of $10,000, while Ripple (XRP) struggles to hold above the psychological level of $1. Interestingly, Ethereum continues to receive huge support near $1000.

Facebook, through its blog, announced that it will not tolerate advertisements of financial products and services related to binary options, ICOs, or crypto currency. The blog announcement states that the company has taken such a decision to discourage misleading or deceptive promotional practices. The blog further goes on to say that most of the companies advertising binary options, ICOs and crypto currencies do not operate in good faith.

Facebook also intends to implement the policy in Instagram and Audience Network. Facebook stated that these advertisements violate the core advertising principles of the company. The company has also requested Facebook users to report content that violates the principles.

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Cameron works tirelessly behind the scenes ensuring his many US news stories are factual, informative and brought to you in a timely fashion before most other media outlets have them. He is an investigative journalist at heart who also has a fond interest in the money and business markets too.

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