News

Facebook To Ban All CryptoCurrency Ads And ICO's

Facebook accused the misleading adverts for the ban

Facebook crypto

Facebook took a surprising step on the Bitcoins advertisement that made the Bitcoin prices flumped overnight. On Tuesday, the social media giant announced to put a ban on the adverts promoting the Bitcoins on the platform. The other reason for the Bitcoins prices getting slumped is the investigation done by US authorities against the online cryptocurrency exchange platforms.

According to Facebook's latest announcement the platform is putting a total ban on the cryptocurrency promoting advertisements. The company said that it will not allow the initial coin offerings (ICOs) on the platform as the Facebook users have already been the victims of the misleading advertisement and deals.

“We’ve created a new policy that prohibits ads that promote financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings, and cryptocurrency.” the company wrote.

The sudden hike in the Bitcoin price in last two months has made the cryptocurrencies-investment quite popular. This lead to the scammers targeting the users via cryptocurrency-invest adverts on social media platforms. This sudden surge also comes with the disadvantages as people are feared to get involved in any kind of scam. Considering the user's safety, Facebook has decided to put a curb on the crypto-scammers with the ban on the adverts targeting the users. However, Facebook isn't the only one taking strong steps against Cryptocurrency hype. The Commodity Futures Trading Commission (CFTC) has summoned the Bitfinex and Tether for some legal investigation. Where Bitfinex is a popular Bitcoin trading website, the Tether is a platform that offers its own cryptocurrency to sell and buy Bitcoins in return for dollars.

There is no doubt that the Bitcoins are making news everywhere and successfully captured the attention of everyone. Whether it is Alibaba Co-founder, Jack Ma or Apple Co-founder, Steve Wozniak, all the tech leaders are sharing their thoughts on Blockchain and Bitcoins.

However,  the ban on the cryptocurrency related adverts is a surprise after Facebook CEO, Mark Zuckerberg's recent opinions on the technology. He said that the cryptocurrency uses the decentralized system that takes power from the governing body and put it right back in the hands of people. Zuckerberg also shared that he would be deeply studying the cryptocurrency to find out how it can be used on Facebook.

Manish
Written By
Manish

With a mixture of literature, cinema, and photography, Manish is mostly traveling. When he is not, he is probably writing another tech news for you!

Want To Hire The Best Service Provider?
MobileAppDaily will help you explore the best service providers depending on your vision, budget, project requirements and industry. Get in touch and create a list of best-suited companies for your needs.
News

Android Q Releases New Feature: Now Capture Audio From Other Apps

4 min read  

You must be eagerly waiting for the upcoming Android version, Android Q’s name. But before getting the answer of the What is the name of Android Q, you must know the answer of how giving the codenames to new Android version started?The history of the Android operating system began on Novem

News

eBay Android App Gets A New AR Feature To Know Right Size of The Shipping Box

4 min read  

eBay, the popular E-commerce platform is finally using the Augmented Reality for a better reason than just capturing the cartoon characters. The online shopping platform has just added a new AR feature to its app for the sellers. The feature enables the users to know the precise size of the box they

News

Google Launches an App for People With Limited Mobility

2 min read  

Google introduced a new app to help users with mobility issues while accessing their smartphones. The company named the app, ‘Voice- access’ that enables the users to navigate through mobile and apps, write and edit text via voice commands.The app will take over your phone and allow

News

Amazon To Introduce Video Ads To Its Mobile App

2 min read  

Soon Amazon shoppers are going to get hit by video ads on their mobile apps. If we go by Bloomberg’s latest report, Amazon is bringing video ads to the mobile app on iOS and Android platforms.From the last couple of months, the Washington-based, multinational technology company was be

MAD Originals
MAD Originals

Cut to the chase content that’s credible, insightful & actionable.

Get the latest mashup of the App Industry Exclusively Inboxed

  • PRODUCTS
  • SERVICES
  • BOTH
Join our expansive network, build connections and expand your brand presence.