Facebook takes U-Turn on his announcement on baning cryptocurrency ads.In January 2018 ,Facebook ban all crypto ads+ ICOs.After that google and twitter follow facebook path and ban the ads of crypto and ICOs,from there till now market is in bearish mode.
After consensus, everyone talks about performance of the botcoin,altcoin last year,but nothing happen.However, behind the scenes, all is not as it seems as cryptocurrency-related content continues to get caught in the web.
On january 30,Facebook announce that they will update their advertising policy prohibiting policy which people lead to misguide.somehow Facebook CEO Mark Zuckerberg said in personal post that he had a desire to study cryptocurrency further:
In March,Google took on Facebook reasoning for banning crypto ads.Google clear in his financial product policy that no advertisement for "cryptocurrency and Related content(such as ICOs,crypto exchanges,crypto wallets,crypto trading advice),would be accepted.
Twitter then followed suit, confirms that it would stop all form of ads of cryptocurrency.Twitter also blocked ICOs,crypto wallets,crypto exchange etc
After Faceboook announcement of banning ads,Bitcoin went from 11,200 to 8,700 in few days.
After Google and Twitter annoucement,it goes down further.
U-Turn
On june 26, Facebook updated their policy and finally allow bitcoin to run their ads on Facebook.But ICOs remain ban.The company stated that it had been looking at the best way of refining its blanket ban on cryptocurrency adverts.
The update "prohibited products and services policy" look like this:
Building a space for itself?
Facebook U-turn is definiteky confusing to most of us ,but somehow we know that they are also looking to enter this space if not now but later definitely.On this reversal update Carlos Grenoir, CEO of Olyseum share his views:
whats you view about why they taking off cryptocurrency ads ban??