8.00am MORNING HEADLINES
Good morning, and welcome to our rolling coverage of all things cryptocurrency, including price, regulation, innovation and financial crime.
Bitcoin is priced at $7,935 this morning, a fall of $189 on the day so far. Ethereum is down at $468, and Ripple is down to $0.58.
2018 has been a bad year so far for Bitcoin, and the much-mooted recovery from the January price plunge has yet to arrive.
Bitcoin remains down 25 percent in March, and the price is expected to fall further as Twitter announced a ban on all bitcoin-related ads on its site.
In a statement, the company said: ?We have added a new policy for Twitter Ads relating to a cryptocurrency.
?Under this new policy, the advertisement of ICOs and token sales will be prohibited globally.?
Adverts about ICO tokens, exchanges or wallets will all be affected by the ban.
A spokesperson for the social network said the decision was taken to ?ensure the safety of the Twitter community?.
Twitter’s decision to ban ads comes after Facebook banned cryptocurrency ads in January and Google said it would introduce a ban in June.
Updates below throughout the day….
9.38am – UPDATE – City of London warming to crypto?
Marking a significant change in tone from the standard language of doom, bubbles and regulatory threats, the UK’s City Minister, John Glen, told reporters at the Treasury’s International Fintech conference on Thursday that “proportionate” regulations could give the local cryptocurrency industry a significant boost.
He said the government is still, “engaged in trying to find the right narrative and the right level of regulation if that’s appropriate.”
Business Insider report that the minister championed regulation as an enabler of a “stable, flourishing cryptocurrency exchange in the City of London”.
8.29am – UPDATE – Reddit cools on bitcoin
Social news aggregation, web content rating, and discussion website Reddit has quietly cooled its passion for all things bitcoin after the premium version of Reddit pulled the ability to pay for the the ad-free version of the site in BTC.
Mashable report that the decision was based on Coindesk changing its terms of its merchant service Coindesk Commerce.
A Reddit admin told Mashable: “The upcoming Coinbase change, combined with some bugs around the bitcoin payment option that were affecting purchases for certain users, led us to remove Bitcoin as a payment option.”