- After Google and Facebook ban on cryptocurrency now it’s the twitter who officially banned the ads relevant to cryptocurrency.
- Bitcoin observed to fall below $8,000 after the Twitter ban on cryptocurrency.
- 6% drop was seen of bitcoin dropping to lowest $7800.
It’s officially now, Twitter Bans Cryptocurrency Ads from 26th March 2018 onwards.
Since the ads were running relevant to the cryptocurrency, promoting the ICOs(Initial Coin Offering). Which was in most of the cases observed as a fraud and money laundering.
These big social platforms are the main target for these ICO launches, influencing the major audience to invest in these coins which could be fraud.
People reported these activities that they have saw the ads of the ICO(who stole their money) on one of these social platforms.
“We have added a new policy for Twitter Ads relating to a cryptocurrency. Under this new policy, the advertisement of Initial Coin Offerings (ICOs) and token sales will be prohibited globally.”
Price recovered above $9,000 last week following to G-20 Meetup where its mentioned that central banked and finance ministers they had productive discussions on cryptocurrency. The price raised above touching $10K for bitcoin.
Since December the bitcoin drops more than 60% on it price value and continuous to show volatility in the market. MT. Gox case was considered to be the major reason for the drop.
Comment on the Ads relevant to Cryptocurrency:
“Most crypto ads are scammy, so it’s a good thing”,
“Advertising is a means of communication with the users of a product or service. Advertisements are messages paid for by those who send them and are intended to inform or influence people who receive them” as defined by the Advertising Association of the UK.” -sarahbonnet7(@reddit)
“Most crypto ads are scammy, so it’s a good thing. Anything actually useful in the crypto world does not like to pay for ads (would have to out-bid the scammers).” -Dayvi (@reddit)
Whats your views on the Ads ban on Cryptocurrency? Mention it in comments below
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