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

Family Zoo: An App That Drives Family Zoo

4 min read  

When it comes to new games, those which reflect an aspect of real-life are often the most fun to play. We had The Sims on PC that allowed us to send Simians off on life paths we created for them.We had Farmville on Facebook which taught us the value of advance planning when it came to growing cr

News

Microsoft Set to Roll-out Halo VR Experience on 17th October

4 min read  

Microsoft with 343 industries is ready to launch the Halo VR Experience for Windows Mixed Reality Headsets on 17th October. Halo Recruit is designed to create the look and feel of VR characters in famous games which can be downloaded for free on 17th October.The VR experience created by 343 indu

News

App Growth Summit NYC 2019: Everything You Want To Know

2 min read  

App Growth Summit is a world-renowned invite-only limited-vendor conference series for mobile app growth professionals. With these events, the company aims to help the world’s top mobile app publishers and brand marketers to propel the mobile app’s growth & sustainability.The las

News

PUBG 0.10.5 Update To Add New Weapons And Vehicles

2 min read  

A couple of days back, PUBG Mobile rolled out its new 0.10.0 update with Vikendi Snow map as its primary feature. But sadly, the last PUBG update received a lot of criticism for constant lags and latency issues, and even the absence of new Vikendi night mode and G36C weapon in its update.Based o

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.