China has cornered the bitcoin market. Almost 90 percent of all bitcoin transactions occur in China, as locals look for ways to aviod government regulations and invest abroad.
Facebook has said it's easing its ban on ads for cryptocurrencies while not changing its rules with regard to initial coin offerings. The social media giant added it would "listen to feedback" after the policy change.
As cryptocurrencies become increasingly mainstream, a small island nation will launch the first digital legal tender. Lawmakers hope the residents will use the SOV for everything from paying taxes to buying groceries.
$125 billion has been wiped off the value of the social media giant after it reported slower revenue growth. A day earlier, China withdrew its approval for Facebook's planned "innovation hub" in Hangzhou.
Consumers, retailers and the Japanese government are all committed to the widespread adoption of virtual currencies – although concerns linger that the craze for virtual cash may pass. Julian Ryall reports from Tokyo.
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