Looks like Facebook is changing its stance on crypto currency ads. Facebook decided to allow some crypto ads on its platforms starting June 26 “while also working to ensure that they are safe.” Crypto advertisers will have to fill an application for their ads to help Facebook assess whether they are eligible. The idea to prevent fraudsters from posting on Facebook.
This should be positive news for cryptos since Facebook still has plenty of users around the world. Hopefully, this will be successful and lead to Twitter and Google lifting their bans on crypto ads. When news broke that Google was banning ads, the crytpo market took a 10 percent decline on the news alone, even before the ads were actually banned. Bitcoin declined 7 percent when Twitter made their announcement. "The Twitter ban meant that the three biggest digital ads providers had banned crypto ads, a big blow to the industry. Microsoft’s search engine, Bing and popular email marketing service MailChimp also banned crypto ads, but the effect on the price of Bitcoin wasn’t as significant."
There are 2 schools of thought as to why Facebook is lifting their ban...one is due to the fact that they are losing ad revenue and users even since their data breach a few months earlier. The second is Facebook’s recent interest in cryptocurrencies and the blockchain. FB has recently put together a blockchain research team which was charged with the responsibility of developing blockchain solutions which can be integrated into the company’s platforms. There are also rumors that perhaps FB is working on their own cryptocurrency that can be used for micro-transactions on their site.
Either way, I will take this news as a win for crypto. We can use all of the good news we can get. The market has been hit pretty hard recently. Hopefully a few more positive stories like this and things will get back on track and we will see more money returning to cryptos. Please share your thoughts and thanks for stopping by.
https://www.crypto-news.net/facebook-accepts-crypto-ads-again-but-ban-on-icos-remains