Facebook Reverses Ban on Cryptocurrency Ads

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Facebook just announced that they’ll be reversing the January ban on cryptocurrency ads today, however ads related to initial coin offerings (ICOs) will need to be preapproved, according to their blog post on June 26.

Facebook originally banned all cryptocurrency ads back in January, when many cryptocurrencies were still at their peak, including Bitcoin. However, the unregulated space was spawning many new scams as well as corrupt ICOs which were stealing new investor’s capital.

Upon Facebook’s ban, Google, Twitter, and Snapchat, followed suit initiating their own ban on the widely popular niche.

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Facebook’s initial policy was aimed at financial products and services that contained misleading or deceptive promotional advertisements which even stopped legitimate businesses from purchasing advertisements on their platform.

Currently, advertisers can now fill out an application which should include licensing information as well as if the currency is publicly traded, in order to help Facebook determine their legitimacy. Facebook’s product manager, Rob Leathern, commented on the blog post stating “we’ll look at how well this policy works, listen to customer feedback, and continue to study this technology so that we can make the necessary adjustments and revise it over time”.

In related news, Facebook recently formed a new blockchain group led by David Marcus, the former Facebook messenger executive, in order to focus on the emerging technology.

Author: Cryptobonx

Cryptobonx is a Crypto –Currency and Blockchain Enthusiast.He is a believer of transforming complex information into simple, actionable content.

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Facebook Reverses Ban on Cryptocurrency Ads

Altcoin News | Bitcoin News | Crypto News | Latest News

Facebook just announced that they’ll be reversing the January ban on cryptocurrency ads today, however ads related to initial coin offerings (ICOs) will need to be preapproved, according to their blog post on June 26.

Facebook originally banned all cryptocurrency ads back in January, when many cryptocurrencies were still at their peak, including Bitcoin. However, the unregulated space was spawning many new scams as well as corrupt ICOs which were stealing new investor’s capital.

Upon Facebook’s ban, Google, Twitter, and Snapchat, followed suit initiating their own ban on the widely popular niche.

FREE CRYPTO COIN JUNKY HANDBOOK - 147 page guide covering Crypto Fundamentals, Beginners/Advanced Crypto Trading Strategies, Crypto Mining Techniques, ICO Investment strategies, and so much more.

CRYPTO TRADING STRATEGY GUIDES - Whether You're Day Trading, Swing Trading, Or Just Investing...Our Extensive Guides Will Get You To Where You Want To Be.

Facebook’s initial policy was aimed at financial products and services that contained misleading or deceptive promotional advertisements which even stopped legitimate businesses from purchasing advertisements on their platform.

Currently, advertisers can now fill out an application which should include licensing information as well as if the currency is publicly traded, in order to help Facebook determine their legitimacy. Facebook’s product manager, Rob Leathern, commented on the blog post stating “we’ll look at how well this policy works, listen to customer feedback, and continue to study this technology so that we can make the necessary adjustments and revise it over time”.

In related news, Facebook recently formed a new blockchain group led by David Marcus, the former Facebook messenger executive, in order to focus on the emerging technology.

Author: Cryptobonx

Cryptobonx is a Crypto –Currency and Blockchain Enthusiast.He is a believer of transforming complex information into simple, actionable content.

Leave a Comment

[js-disqus]

Latest Crypto News

Goals set by Justin Sun for Tron(trx)in 2019

On the 31st Of May 2018, Tron achieved independence from Ethereum and Launched its own Mainnet with the Intention of being a fully functional Public Blockchain that supports Creation and development of decentralized Apps (dApps)

Read More »

Crypto Regulation Commences in South Africa

The South African government today issued a statement regarding the steps it is taking on cryptocurrency trading by setting up a working group dedicated to regulating blockchain and crypto. Background Before we get into that,

Read More »

Facebook Hiring: 5 Cryptocurrency Positions Open

Something is definitely brewing in Facebook’s newly formed department. Early in May, there was a rumor that Facebook was interested in opening a cryptocurrency department within its headquarters. The advertised positions are: Two Software Engineers

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