Value Of Bitcoin Drops After Facebook’s Strict Action Against It

Facebook's new approach, which denies adverts identifying with cryptographic forms of money or initial coin offerings (ICO), has become an integral factor since they are 'frequently connected with misleading or promotional practices'. The two billion worth social group has seen a steep rise in cryptographic money related advertisements as Bitcoin costs have risen.

Facebook’s new approach, which denies adverts identifying with cryptographic forms of money or initial coin offerings (ICO), has become an integral factor since they are ‘frequently connected with misleading or promotional practices’. The two billion worth social group has seen a steep rise in cryptographic money related advertisements as Bitcoin costs have risen.

Banning Adverts Relating To Crypto

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There are so many of the adverts that are feared to be scams and the commodity future trading commission (CFTC) has asked Bitfinex, a popular US-based website for buying and selling bitcoin and Tether. A cryptocurrency which is linked to dollar used to buy bitcoin.

Price Fall For Bitcoin

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Bitcoin prices have fallen 10pc to trade as low as $9,810, this is the lowest amount of bitcoin for two months.

Facebook On This Issue

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Facebook on bitcoin advert said, “misleading and deceptive ads have no place on this social media website.”

Facebook’s New Policy

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Facebook has created a new policy that prohibits ads that promote financial products and services that are frequently associated with misleading or deceptive promotional practices, such as binary options, initial coin offerings, and cryptocurrency.