In 2017, the idea of investing in cryptocurrency fantasized people but now it’s becoming very hard for bitcoin to recreate that magic again. 2018 has been very hard for cryptocurrency industry, to make it harder social platforms are coming in numbers. After Google and Facebook, its time for micro-blogging site Twitter to ban initial coin offerings (ICOs), token sales, and cryptocurrency wallets globally. As per the SkyNews, the new policy will come into force in two weeks. Twitter may also ban cryptocurrency exchange ads with little exceptions.
On January 30th, Facebook amended its ad policy to ensure people safety from misleading advertisement. The amendment was to restrict cryptocurrency from running ads and make the social platform genuine for users. Last week, in support of Facebook, the search engine Google also came forward and banned cryptocurrency advertisement on its platform.
A lot of fake profiles of popular personalities have been found, asking people to invest in cryptocurrency industry. AB De Villers, the former South African captain has been one of the victims of this scam.
Just to confirm, I am not endorsing any products related to Bitcoin or any other currency #fakenews
— AB de Villiers (@ABdeVilliers17) February 5, 2018
With this tweet, he clarified his involvement.
Talking about the ban, the worlds largest cryptocurrency trader South Korea prohibited its financial institutions from dealing with virtual currency like Bitcoin, IOTA, litecoin, and others.
Previously, the Goldman Sachs Group, an American multinational finance company had cautioned people about the downfall in the value of cryptocurrency.
India government also feels the same and has banned cryptocurrency. In February, Finance Minister, Arun Jaitley disapproved cryptocurrency as legal tender and will put all efforts to eliminate the use cryptocurrency for payments systems.
According to CRIX, the cryptocurrency index-benchmark for the crypto market, cryptocurrency like Bitcoin, Ethernet and Ripple have plunged in their value after Facebook ban in January.