FTC writes:
23.14 Misuse of the term "blue white."
It is unfair or deceptive to use the term "blue white" or any representation of similar meaning to describe any diamond that under normal, north daylight or its equivalent shows any color or any trace of any color other than blue or bluish.
More info @ http://www.ftc.gov/bcp/guides/jewel-gd.htm
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