Facebook bans cryptocurrency ads

Bitcoin tanks as Facebook bans cryptocurrency adverts

Facebook says it is banning ads for financial products often associated with deceptive practices, including those involving cryptocurrencies such as bitcoin.

In a post today, Facebook announced that it banned cryptocurrency ads and ads for initial coin offerings (ICOs) and also ads for other financial products such as binary options.

"There are many companies who are advertising binary options, ICOs and cryptocurrencies that are not now operating in good faith", the post said. "People can report any ad on Facebook by clicking on the upper right-hand corner of the ad", it said.

With Facebook now cracking down on cryptocurrency ads, legitimate projects may also bear the brunt of the prohibition and will have to explore other avenues for reaching out to potential users and investors. Among those who will be affected is James Altucher, a self-described "crypto genius" whose viral ads have become a talking point in how the cryptocurrency boom has led to scams and wild price fluctuations.

Grammys president said women need to "step up" after male-heavy awards
At this year's Grammy Awards , there was constant discussion about gender equality, the #MeToo movement and women's rights . The producer of the award show, Ken Ehrlich , took a slightly different take.

Facebook said its new advertising rules are "intentionally broad" as the tech firm works on improving how it detects scams on the world's largest social media site.

Even those already invested in cryptocurrencies said the decision could be used to their advantage. Much of the company's bad-actor detection focuses on advertisements that maliciously mine cryptocurrencies by using the computing power of unsuspecting people.

The SEC's involvement brings to an end the ICO of AriseBank, which claims it has raised $600 million of a $1 billion goal, according to CNBC. The US Securities and Exchange Commission said this week that it got a court order freezing the assets of an alleged initial coin offering scam by AriseBank.

Ultimately, it seems that Facebook is just trying to play it safe - both on their end and for its users.

Related News:



Most liked

Wall Street Hit by Rising Bond Yields, Sinking Health Stocks
Among earnings , shares of Harley-Davidson dropped 6.7 per cent after the motorcycle maker forecast a drop in shipments this year. Bond yields have been rising steadily over the past few months, making bonds more appealing to investors seeking income.

Canadian proposals could save NAFTA, says former Canadian opposition leader — Interview
But the White House has made renegotiating NAFTA a challenging process . "And the broken part is obviously the Canadian side". He acknowledged that Trump makes statements to please his base, but said his actions do not always match his rhetoric.

Russia's Syrian peace talks begin despite opposition delegates' boycott
The Russia-organized Syrian National Dialogue Congress will be held in Sochi on January 29-30. France's Syria envoy is not due to go, a diplomatic source said.

Pfizer beats Wall Street estimates on tax gain
Raymond James &, Florida-based fund reported 49,719 shares. (NASDAQ:AAPL) or 368,791 shares. (NYSE: PFE ) for 3.00 million shares. Earnings per share (EPS) is the portion of a company's profit allocated to each outstanding share of common stock.

Couple Gets Hookworm Infection While On Beach Vacation
The couple said they believe they came into contact with the parasites while walking barefoot on the beach at their resort. Stephens' Facebook post warns others about the dangers of tropical sand and advises wearing shoes on foreign beaches .

Yemen separatists capture Aden, government confined to palace
Save the Children on Tuesday said it was suspending critical humanitarian work in Aden out of fear for the safety of its staff. The recent infighting hasn't been the only complication to the civil war waging in the country.

Emotional Support Peacock Not Allowed to Fly on United
It's not the first time that passengers have tried to bring support animals on flights, with a turkey brought onto a plane . According to a travel blog, the woman said the peacock was an emotional-support animal, allowed to fly free.

Facebook urged to shut down chat platform made for kids
Experts are concerned about the effects that smartphones and social media apps have on people's physical and mental health. According to the child-health experts, social media use by teens is linked to significantly higher rates of depression .

Kevin Love suffers broken bone in left hand against Detroit Pistons
The Cavs had lost 10 of 15 heading into Tuesday's game, and they trail Boston and Toronto atop the Eastern Conference. Power Forward Kevin Love fractured his left hand in the team's game against the Detroit Pistons on Tuesday night.

Quicksilver surf company CEO missing at sea, boat washed up on beach
The group includes Quiksilver , an iconic Australian surfwear brand as well as other such brands as DC Shoes and Roxy clothing. According to the World Surf League, Agnes left Capbreton Harbor at 7.30am on Tuesday and his boat was found two hours later.

Oppenheimer Increases Microsoft (NASDAQ:MSFT) Price Target to $115.00
MO's profit will be $1.55B for 21.63 P/E if the $0.81 EPS becomes a reality. (NYSE:GS) shares were sold by ROGERS JOHN F.W. Point72 Asset LP invested in 0.32% or 965,439 shares. $83.90's average target is -9.13% below currents $92.33 stock price.

Helicopter crashes into Southern California home
A resident in the neighborhood described to local station KCAL-TV what he heard and saw after the crash took place. A piece of the tail rotor was seen lodged in the tiled roof of a home across the street.

Thomson Reuters Expects 2017 Results To Meet Or Exceed Prior Guidance
Industry trends, including discounting and unbundling of services, are also accelerating, adding competition, the analysts wrote. Thomson Reuters employs about 6,300 people in the United Kingdom , with its headquarters in Canary Wharf in London.

Kenya's Raila Odinga Swears Himself in As 'President'
While threats have been made in the past, the government switching off media broadcasting signals is unusual, the BBC reported. In order to avoid live reporting of opposition leader Raila Odinga's "inauguration", Kenyan government has closed TV stations.

Bombshell: Quarterback Alex Smith Traded to Redskins
While this may be the end of Cousins with the Washington Redskins, it is just the beginning of speculating where he will end up. But we've seen it happen before (Donovan McNabb to the Redskins) and the Broncos should at least explore the option.