Twitter Bans Cryptocurrency Ads:
Twitter on Monday declared a ban on ads for primary offerings of cryptocurrency or purchases of virtual money tokens, transferring the value of bitcoin diving under $8,000. The company followed the lead of the tech giant Google and Facebook.
Which beginning this year crack down on digital currency ads to guard people against being the dupe. The Twitter said in a statement that they are dedicating to guaranteeing the safety of the Twitter people. The company also said that as such, we have attached a fresh policy for Twitter Ads relating to cryptocurrency.
Under the latest policy, initial currency offerings, or the advertisement of ICOs, and token purchases will ban at the worldwide one-to-many messaging stage. Few startups have used ICOs to grow billions of dollars in an extremely volatile, loose market.
The company said that we recognize that this type of content is usually link with fraud and cheating, both organic and paid. Both are proactively executing a number of signals to block these types of accounts from engaging with others in a tricky manner. The standard of bitcoin fell 8% to 7,929 dollars. After the company ad ban declaring, according to market information from Bloomberg.
The latest policy leaves open the door for ads for cryptocurrency exchanges or protected “wallet” services proposed by public firms listed on few important exchanges.Then the company plans to change its ad policy as the digital currency market evolves. And its capability to differentiate suspicious marketing messages updates. The British government early this year called for global regulation of controversial cryptocurrency bitcoin. Attaching that the G20 would address the issue this month.
Bitcoin is free of banks and govt and uses blockchain system, where encrypt digital coins are generating by supercomputers. The digital currency is not controlling by any central bank. But it is instead managing by a community of people who try to secure against the fake. Digital currency exchanges have seen great volatility. And have sparked worry they can be used to launder money for illegal networks. On Monday, after the nonprofit Litecoin foundation put out the word the value of Litecoin also tanked that payments processor LitePay stopped services.
However, LitePay had asked the Litecoin for increased funding. But was “unable to give a satisfactory image” of what it did with the money. It had already been given, according to a statement. Litecoin foundation said in the release that they are very disheartening that this story has finished in this way. And they apologize for not doing sufficient due diligence that could have opened few of these issues earlier. Finally, the company was down about ten percent to 144.05 dollars.