Cryptocurrency culture is on the rise at a very rapid pace and new currencies are launching on the everyday basis, and by now there are over 2000 different types of cryptocurrencies in the market. More and more people are investing in this virtual money and more merchandisers are adopting the economic cultural shift. In fact in some countries like South Korea, Japan and China have accepted this virtual money and imposed a certain percentage of Tax on every transaction.
But on the other hand largest social media platform Facebook have decided to ban all kind of ads related to cryptocurrencies and Initial Coin Offerings (ICO). The Facebook representatives announced that they will not promote any kinds of Financial product or services related to any cryptocurrency. According to the new policy from facebook, it is prohibited to promote any financial products or services that are frequently associated with deceptive promotional practices. The social media giant said, ” We want people to continue to discover and learn about new products and services through Facebook ads without fear of scams or deception”, and they also encouraged their more than 2 billion users to report such ads to prevent any kind of scam.