Sunday, 18 February, 2018

Facebook bans all ads promoting cryptocurrencies - including Bitcoin

Bitcoin goes from year of boom to month of gloom Facebook bans all ads promoting cryptocurrencies - including Bitcoin
Elsie Buchanan | 02 February, 2018, 14:58

Bitcoin exchange operator Coinbase also acknowledged Thursday that payments on its platform are being processed by credit card companies as cash advances, which could mean more fees.

Looking at the volume of trade Bitcoin is generating, the Income Tax Department, the Reserve Bank of India (RBI) and the FinMin expressed concern over it in November 2017.

According to CoinMarketCap bitcoin is now priced at $9,114 and the top ten cryptocurrencies are all falling in value.

Thursday's drop to as low as $9,022 on the Luxembourg-based Bitstamp exchange left bitcoin trading at less than half the peak price of nearly $20,000 it reached in December.

Blockchain technology works as the backbone of not just Bitcoin, but other altcoins too - to further strengthen the Digital India campaign.

"The government does not consider crypto currencies as legal tender or coin and (will) take all measures to eliminate the use of crypto assets", Finance Minister Arun Jaitley said on Thursday.

Federal investigation launched after court clerks solicits Meek Mill for money
Chavarria told TMZ she slipped a note to Mill during the proceedings, and that the judge was unaware. Mill, 30, remains behind bars under minimum security at a state prison in Chester.


A month ago Bitfinex was subpoenaed by U.S. regulatory agency - the Commodity Futures Trading Commission but news did not reach investors until Tuesday.

"The necessary next step is for government to legislate and thereafter regulate cryptocurrencies in the country".

In other crypto-related news, Facebook announced on Tuesday that it will begin banning all cryptocurrency advertisements, as well as ads for ICOs and binary options trading.

The social media titan introduced strict new guidelines on February 1 to curb the mounting number of adverts used to promote fraudulent cryptocurrency services, in a bid to combat criticism from consumers and the media alike.

Bitcoin also seems to be negatively impacted on the day by a speech from India's finance minister, in which he said that the country's government doesn't recognise bitcoin as legal tender.

Fawad Razaqzada, an analyst at FOREX.com, said: "Sentiment towards cryptocurrencies is turning sour with negative headlines pouring out from left, right and centre". Many did not expect the digital currency to go below this level, but that happened in a matter of hours.

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