ICO Alert Crypto Minute: March 27, 2018
Twitter to begin ban of cryptocurrency ads today, OKCoin planning South Korea launch, top 5 cryptocurrency price changes, and more!
Twitter to Begin Ban on Cryptocurrency Advertisements Today
According to Reuters, Twitter will begin banning cryptocurrency advertising today. Twitter now joins Facebook and Google in efforts to prevent publicity of potentially fraudulent ICOs. The new policy, which will be rolled out over the next 30 days, will apply to ICOs, token sales, cryptocurrency exchanges, and cryptocurrency wallet services — unless they are from public companies listed on major stock markets.
OKCoin is Planning to Launch South Korea-Based Exchange By the End of March
NHN Entertainment Corporation’s OKCoin, which was thelargest cryptocurrency exchange in China before it banned trading in 2017, is finalizing plans to expand its cryptocurrency exchange to South Korea. According to CoinTelegraph, OKCoin Korea president Cho Jeong-hwan suggested that OKCoin Korea would open by the end of March. The exchange would enable 60 cryptocurrency-to-Korean won pairings, which is five times more than the number of pairings on Bithumb.
Litecoin Foundation Announces LitePay is Ceasing Operations
The Litecoin Foundation has issued a press release stating that Kenneth Asare, the CEO of LitePay, has ceased all operations and is preparing to sell LitePay. This development occurs after the Litecoin Foundation had approached Kenneth about his “less than transparent nature” and concerns over a recent Reddit AMA — where he asked the Litecoin Foundation for more funding without providing past financial information or exact details behind the need for more funding. The Litecoin Foundation apologized for “not doing enough due diligence that could have uncovered some of these issues earlier.”
Alibaba’s Payment Affiliate Not Planning an ICO
Ant Financial Services Group, Alibaba’s payment affiliate and operator of AliPay, has stated it is not planning an ICO in the near future. Eric Jing, Ant Financial’s CEO, made the clarification while speaking at the annual China Development Forum in Beijing. According to CoinDesk, Jing also stated that the majority of enthusiasm over blockchain technology comes from speculation.
