We got some good news today when Facebook decided to reverse its ban on cryptocurrency ads.
To be clear though, it is still banning ads on ICOs.
To move reverses a trend that started this past January. We’ll see if it follows through to some of the other advertisers that banned crypto ads as well.
The crypto bans started with Facebook this past January.
Back then it implemented a very broad policy that banned all ads promoting cryptocurrencies, including bitcoin. The idea was to stop scammers. But legal and legit businesses got caught in the crosshairs as well.
Facebook wasn’t the only company to implement this policy.
Google banned all crypto-related advertising in March. And Twitter joined the fray later in the month.
According to Statista, Facebook and Google combined control over 60% of global online advertising. So it was a big deal.
And some thought it was unfair. A blockchain association that included Russia, China, and South Korea was planning to file a lawsuit against Facebook, Google, and others.
And the Wall Street Journal recently wrote how the ban could bring up antitrust issues.
It seems with Facebook’s latest move we won’t have to resort to lawyers.
The question is why they made the move.
Perhaps it’s to avoid any more negative publicity after the Cambridge Analytics scandal.
Or perhaps Facebook is gearing up for its own coin. They did launch a blockchain team in May.
What do you think?
and trade cryptos on Binance