Social Media Giant Facebook and It's New Rules for Crypto
It is official…. Facebook has reversed its ban on cryptocurrency ads! Back in January, Facebook put up the ban because it felt several companies were “not currently operating in good faith.”
Facebook was not the only website to ban cryptocurrency ads, companies such as Google and Twitter had also banned them. In January, Facebook had stated that the ban of cryptocurrency ads would “improve the integrity and security of our ads, and make it harder for scammers to profit from the presence of Facebook.”
The fact that Facebook reversed the ban on cryptocurrency ads only 6 months after enacting the ads shows the significance of cryptocurrency.
Facebook is not allowing all cryptocurrency ads, though. There is now a process, where an application must be submitted to determine its eligibility. The new application includes questions about business background information, what licenses the company holds, and if it is a publicly traded company.
Facebook Product Management Director, Rob Leathern stated in the announcement “We’ll listen to feedback, look at how well this policy works and continue to study this technology so that, if necessary, we can revise it over time.” Since June 26th 2018, the ban is officially lifted from cryptocurrency ads as long as the company has passed the application process.
SEE MORE HERE:
https://www.wsj.com/articles/facebook-to-accept-cryptocurrency-ads-again-1530051514
Do you think other companies will follow Facebook’s example of reversing its ban on cryptocurrency advertisements? How do you feel about this new development? Let us know your thoughts and opinions in the comments! Don’t forget to upvote and follow us for more interesting cryptocurrency articles.
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