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Twitter, Facebook, and Google – three of the technology giants that permeate our daily lives – have now banned or restricted cryptocurrency related advertising. Could this now offer an opportunity for credible coins, ICOs, and blockchain companies to push ahead of their less legitimate competition?
An ICO Advertising Free-for-All
Before the recent bans, anyone could advertise an ICO. Social media and search-based advertising are both easy and quick to set up. Until now there has been little information or verification required for an advertiser to create a campaign and publish ads. How visible those ads become is based simply on how well they are targeted and the budget behind them.
The SEC believes that cryptocurrency exchanges could improve by implementing similar principles of stock markets.
Cryptocurrency Markets Resemble “Wild West”
Many regulators, experts, analysts believe that cryptocurrency markets still lack proper oversight and regulations. According to a recent report by VentureBeat, senior U.S. Securities and Exchange Commision (SEC), Brett Redfearn, stated that the current state of cryptocurrency markets resemble the “Wild West”. The Securities and Exchange Commission (SEC) is mainly concerned with cryptocurrency market manipulation, cybersecurity, fraud, money laundering and terrorist financing. Redfearn stated in the article:
Crypto enthusiasts around the world should send a strong signal to President Maduro that blockchain technology will not be used to support corruption.
Bitcoin is both the most-widely used crypto-currency in the world and the probably most misunderstood. Ask a person on the street about it and they will either claim to love it, hate it, or know nothing about it.
Most people, however, will tell you one of the many half-truths they’ve heard about Bitcoins from either the mainstream media or a friend. Because this currency is gaining in importance around the world, it is about time we debunked common Bitcoin myths.
It’s only February, but the award for most inaccurate cryptocurrency article of the year is already in the bag. The Financial Post, which bills itself as “Canada’s most trusted source of financial news” has published an editorial that reads like something straight from The Onion. This isn’t satire though – it’s a serious piece authored by the publication’s decorated editor-at-large Diane Francis.
This is a paid press release, which contains forward looking statements, and should be treated as advertising or promotional material. Bitcoin.com does not endorse nor support this product/service. Bitcoin.com is not responsible for or liable for any content, accuracy or quality within the press release.
According to the decision made by the e-Chat management team, the main round of ICO is extended until March 1, 2018. There are a couple of reasons for that.
The UK prime minister Theresa May has said the government “should be looking at cryptocurrencies and Bitcoin very seriously.”
‘We Need To Look At It’
In rare direct comments to Bloomberg at the ongoing World Economic Forum 2018 in Davos, May went on record to state that crypto’s possible use “particularly by criminals” is cause for additional scrutiny from lawmakers.
“…It is something that has been developing, obviously, increasingly developing; I think it’s something that we do need to look at,” she added.
This time last year, Bitcoin and its brethren were only in the realm of tech geeks and crypto fanatics. What a difference a year can make. Today it is a household name which has attracted the attention of governments across the planet. A number of bankers and politicians have spoken out about Bitcoin, either extolling its virtues or demonizing it. The latest is former Republican Ron Paul.
According to reports, the politician says he is all for Bitcoin as an alternative currency, providing everything about the controversial cryptocurrency is legal. The former Texan congressman told CNN that he introduced legislation to allow competing currencies when he was in Congress because he hates the current system.
Blockchains and cryptocurrencies are here to stay, and banks and governments are concerned. With the momentum that the budding markets have built in recent months, digital assets like Bitcoin, Ethereum, Litecoin, and Ripple have become household names. However, crypto regulation does not necessarily have to mean prevention if it can be approached in the right way.
In recent weeks, news has emerged of steps concerning crypto regulation taking place across the world, most significantly in Asia where the lion’s share of crypto trading occurs. Fake news and fearmongering of a complete crackdown in South Korea washed across the internet last week, causing a mass selloff and slumping markets.