A group of traders and developers plans to launch a legal challenge against a ban on cryptocurrency advertising by giant social media web sites.
The Eurasian Association of Blockbearers announced funding to start an action through the US courts to lift the ban.
Google, Twitter, Facebook and Yandex are all refusing to place advertising for coin offerings, cryptocurrency wallets and exchanges.
Only publicly listed companies on major stock markets are exempt from the ban.
Facebook has also extended the ban to companies offering binary options.
“We want people to continue to discover and learn about new products and services through Facebook ads without fear of scams or deception. That said, there are many companies who are advertising binary options, ICOs and cryptocurrencies that are not currently operating in good faith,” said a Facebook announcement.
Around the markets
The Bitcoin slide continues as the digital currency hit a new low for the year of $7,544 after starting the year at $13,444.
In mid-December, Bitcoin hit an all-time high of $19,345 as euphoria buoyed the market. Cryptocurrency experts even predicted that Bitcoin was on the way to the $40,000 mark.
The falling Bitcoin price also infected the rest of the cryptocurrency market, with other leading coins losing value.
The trend across the market is for falling values for almost every cryptocurrency.
Students are diverting cash from their loans and grants to buy cryptocurrencies, according to a new study.
One in five students admitted investing in digital currencies to boost their finances in research by The Student Loan Report in America.
Here are the latest trading prices from cryptocurrency tracker cryptocompare.
|Last 3 months||$14,392||$740||$243||$1.93|
|High in year||$19,345||$1,359||$357||$2.95|
|Low in year||$1,044||$51||$4||$0.00|
|Market cap this week||$128 billion||$41 billion||$7 billion||$21 billion|
|Market cap last week||$145 billion||$52 billion||$9 billion||$24 billion|
|Market cap change in week||-$17 billion||-$10 billion||-$2 billion||-$3 billion|