Facebook Has Renounced The Crypto Ban
In the face of all the crypto dissidents, Facebook has just reversed its decision to ban cryptocurrency advertisements.
(Source)
Earlier on 30 January this year, Facebook had banned all cryptocurrency-related advertising on their platform, with many others services like Google, Twitter and Snapchat following the suit.
Now, in an announcement Facebook has revised it "Prohibited Financial Products and Services Policy"
“Starting June 26, we’ll be updating our policy to allow ads that promote cryptocurrency and related content from pre-approved advertisers. But we’ll continue to prohibit ads that promote binary options and initial coin offerings.
However the crypto advertisers now must submit an application first, to allow facebook assess their eligibility. Plus, the ads promoting scams likes ICOs and binary options are still banned.
Despite severe correction in 2018 cryptocurrencies still have a lot of believers and it is understandable why Facebook is not willing to lose all the extra advertisement revenue from this potentially growing industry.
Also the company has launched its own team to explore blockchain technology, earlier this year: a technology that is the foundation of all cryptocurrencies.
It will be interesting to see how the current bear market will respond to this news and how other social media advertisement giants likes Twitter, Google, Bing and Snapchat will respond , but this a huge win for all crypto promoters nonetheless.
Sources
1. https://www.facebook.com/business/news/updates-to-our-prohibited-financial-products-and-services-policy
2. https://cointelegraph.com/news/facebook-reverses-ban-on-cryptocurrency-ads-maintains-ban-on-icos
3. https://bitcoinist.com/facebook-is-renouncing-its-ban-on-cryptocurrency-ads/
4. https://www.recode.net/2018/6/26/17505876/facebook-cryptocurrency-ads-bitcoin-ico-ban-reversed
This is good news! I think this new policy sounds pretty good; this way we can see ads for real cryptos without all the ICO scam spam.
This is the true correction infact....
An inevitable decision....
Finally the Facebook has submitted:)
Oh thanks for this info! I had no idea
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