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Facebook is exploring the creation of its own cryptocurrency, a virtual token that would allow its billions of users around the world to make electronic payments, people familiar with Facebook’s […]

Facebook Inc. continued to add users and saw revenue soar in the first quarter despite facing its worst crisis in company history over the mishandling of personal data belonging to […]

Facebook is banning all advertisements for cryptocurrency, including Bitcoin and initial coin offerings, as part of an “intentionally broad” policy against deceptive marketers. Product management director Rob Leathern explained the decision in a blog post, saying Facebook will no longer accept ads that “promote financial products and services that are frequently associated with misleading or deceptive promotional practices.” He says the decision isn’t permanent, though, and that Facebook will revisit the rules when it’s gotten better at detecting and removing bad ads.

Cryptocurrencies are a bubble and cannot function as actual currencies because of their volatility, legendary macro trader George Soros said from Davos, Switzerland. But he didn’t quite predict the crash that some naysayers have forecast.

“Normally when you have a parabolic curve, eventually it has a very sharp break,” Soros said Thursday. “But in this case, as long as you have dictatorships on the rise you will have a different ending, because the rulers in those countries will turn to Bitcoin to build a nest egg abroad.”

Keeping in tradition with other years, Facebook owner Mark Zuckerberg has issued a mission statement just as the new year begins. Unlike before, he concentrates more on putting power back into people’s hands, other than his task to fix Facebook, in a note published on the popular social networking site Facebook on 4 January.

Facebook has become one of the first large technology companies to shake up its tax structure and book less of its revenue in Ireland, as multinationals come under pressure to pay tax in the countries where they operate.

From January 1st, Facebook will begin the process of booking revenues from large advertisers in about 28 countries – including France and Germany and other major European markets – in the countries in which they were earned. It will also pay the taxes on those revenues in those countries, and not in Ireland.

With the number of digital transactions around the world increasing by the day, Facebook is also looking to improve users’ payment experience on its platform. Making a move in the same direction, the company may soon start testing “red envelope” payments feature that will allow users to send money to others on the platform.

Facebook will see a decline among teenagers in the U.S. this year, says market research firm eMarketer. Facebook usage among U.S. users between the ages of 12 and 17 is expected to decline for the first time this year, falling 3.4% from the previous year, according to the research. While this decline gives Snap Inc. a rare edge, as teens are fleeing to its platform, Facebook is still in the game as teens seem to be spending time on its other property, Instagram.