Speculations Arise That Facebook, Inc (NASDAQ:FB) Messenger Might Not Support Cryptocurrency
Compliance Officers In Trying Times As Cryptocurrency Gets To The Mainstream
February 7, 2018How India Is Moving About The Crypto Currency Saga
February 7, 2018
Facebook, Inc (NASDAQ:FB) is one of the top social media giants that have been moving through challenging times in the recent past. Implementing changes in terms of policy formulation was one of the major considerations the company was compelled to do.
It was in a recent interview that Facebook’s vice president of messaging David Marcus proceeded to say that it was very much unlikely that Facebook Messenger could end up embracing cryptocurrency payments anytime soon. It was a controversial statement that sparked about much speculation among people following up on the most recent developments.
The former president of PayPal spoke elaborately on the on the current issues with existing cryptocurrencies, pointing out to the slow transaction times and the high transaction fees as the major reasons as to why the product wasn’t likely to unveil the technology as a payment method.
It was back in 2017 that Marcus joined the board of Coinbase and he said that there was a leeway to make such payments in future. In several instances he was heard calling upon all the developer communities to move ahead and fix each and every issue. Most of the concerned parties will be looking forward to see the company move ahead to open up the option.
It was just recently when the social media guru proceeded to place a ban on the cryptocurrency-related ads.
An official working with the company said, “The social media giant cited concerns that users were being exposed to fraudulent ICOs and cryptocurrency schemes amidst what has been a wave of regulatory actions to start 2018.”
It was in the course of the interview that Marcus proceeded to reiterate the concerns outlining that the ban was part of the concerted efforts to protect the community. The one thing worth noting is the fact that the fraudulent ICOs could end up reflecting poorly on the entire cryptocurrency space as was stipulated by Marcus. Quiet a large number of the ads were a scam. There are high chances that the ICO-related content and cryptocurrency could make their way back Facebook in the future.
