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Crypto Corner: Twitter ($TWTR) Bans Crypto Ads, South Korean Outlets to Accept Crypto and Market Continues Slump

 

Point Roberts, WA and Delta, BC - March 27, 2018 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news reports on what's driving the cryptocurrency markets with today's edition of Crypto Corner.

Crypto Corner - March 27, 2018

By Samuel Mowers at Investorideas.com

Twitter ($TWTR) Bans Crypto Ads, South Korean Outlets to Accept Crypto and Market Continues Slump

Social media giant Twitter will be banning Cryptocurrency ads as of today, according to Trey Ditto of Ditto - a PR firm that specializes in crypto, blockchain and ICOs. This follows similar restrictions implemented by Facebook in January and Google earlier this month. Ditto said the following in a statement:

"It's bad business to make blanket bans. There are good players in this space - both blockchain, crypto and ICO - that are being punished because of a few bad players. I think these blanket bans will be adjusted in the weeks to come with much more specific language around what is and isn't legal.

Twitter and Facebook have bigger problems - like selling our data, altering elections and allowing hate to spread through bots and fake profiles. It's hard not to laugh when a company like Twitter - that promotes millions of fake profiles and allows people to buy fake followers and likes - all of a sudden has a moral compass in the crypto space.

Blockchain, tokens and even Web 3.0 are direct threats to companies like Twitter who for too long have dishonestly acquired, sold and even lost consumer data, but we are moving into a new world where peer-to-peer transactions eliminate the need for large distrusted institutions and we can remain private or at least control who does and doesn't have access to our information."

In an article in the Korea Times, it was reported that 6000 outlets in South Korea will accept cryptocurrencies following a partnership established yesterday between cryptocurrency exchange Bithumb and Korea Pay's Service.

"About 200 franchise brands will allow customers to use the service to pay at 6,000 outlets across the country.

Among the brands are dessert cafe Sulbing, Cafe Droptop, seafood buffet restaurant Todai and candle store Yankee Candle.

The two companies will work to make virtual currencies available at 6,000 outlets in the first half of the year and 8,000 by the end of the year.

"We have taken a landmark step," a Bithumb official said. "We will try hard to set up an environment in which cryptocurrencies are used extensively.""

The crypto market continues to slump with Bitcoin (BTC) dipping below $8000 USD late yesterday. The flagship cryptocurrency was followed in this decline by Ethereum (ETH), which has remained trading below $500 USD since yesterday. The crypto market cap at press time is hovering around $307 billion USD.

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