Bitcoin BLOW – Cryptocurrency shock as tech giant launches surprise BAN
BITCOIN has been dealt a shock blow with a tech giant launching a ban on all adverts promoting cryptocurrencies.
By DION DASSANAYAKE
Express.co.uk
Wed, Jan 31, 2018
Bitcoin price fears continue after experts warned the value of the cryptocurrency could fall by as much as 80 per cent.
It comes after Bitcoin hit a record price high of almost $20,000 before Christmas, but has plummeted in value to now stand at around $10,000.
Amid the fluctuating Bitcoin price, one tech giant has launched a surprise ban on adverts promoting any type of cryptocurrency.
Facebook have announced that they will be banning adverts that promote cryptocurrencies like Bitcoin, Ripple and Ethereum.
The social networking giant will also ban ads that promote initial coin offerings and binary options.
Explaining their decision, Facebook said such advert are “frequently associated with misleading or deceptive promotional practices.”
Rob Leathern, Facebook’s product management director: “We want people to continue to discover and learn about new products and services through Facebook ads without fear of scams or deception.
“That said, there are many companies who are advertising binary options, ICOs and cryptocurrencies that are not currently operating in good faith.”
He added: “This policy is part of an ongoing effort to improve the integrity and security of our ads, and to make it harder for scammers to profit from a presence on Facebook.”
In the aftermath of the news on Tuesday, Bitcoin’s price tumbled by more than 10 per cent.
It fell below the $10,000 marker for the first time in over two months, but has since climbed back over $10k.
The news comes after Bitcoin users were advised to stay safe from cybercriminals looking to empty investors’ wallets.
Last week £380million worth of cryptocurrency was stolen by hackers that targeted the Coincheck exchange.
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