Facebook Overturns Ad Ban on Blockchain Projects; Will Crypto-FB Go Mainstream?


Facebook had called for a ban on cryptocurrency related ads in January 2018 over the growing concerns over ICOs and Ponzi schemes in the wake of a bubble like characteristics in the cryptocurrency markets. However, since then the social media giant has changed its stance considerably as it is planning to release its own Facebook Coin.

Until now, Crypto-Twitter has been a popular platform alongside Telegram and Reddit for promoting and sharing cryptocurrency and blockchain news. Moreover, as Facebook has prohibited the promotion of posts and ads, it restricted the publications and new companies to target the audience on Facebook.

Also Read: Facebook Coin Will Act As a ‘Gateway Drug’ for Bitcoin and Cryptocurrency: Spencer Bogart

The ad-ban was lowered to a permission-based approval in in June 2018. Prior written consent was mandatory for posting and hosting the blockchain and cryptocurrency ads and pages on Facebook. However, they released a new update on 8th May saying,

We will narrow this policy to no longer require pre-approval for ads related to blockchain technology, industry news, education or events related to cryptocurrency.

Industry news, education or events promotion will open a plethora of information sharing opportunity on Facebook which was highly restricted until now.

Nevertheless, they will continue to ban ads for initial coin offerings (ICOs) as well as ads for binary options.

Facebook has more than two billion users. Hence, an ad lifting proposal for cryptocurrency and blockchain would engage more people interested in blockchain projects and cryptocurrencies. Therefore, Blockchain and cryptocurrency projects looking to grow their world-wide presence will surely look in to tap this marketing opportunity.

Do you think that ads promotion on Facebook will affect the price of cryptocurrencies even more greatly or help it stabilize? Please share your views with us. 

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Article Name

Facebook Overturns Ad Ban on Blockchain Projects; Will Crypto-FB Go Mainstream?

Description

Facebook had called for a ban on cryptocurrency related ads in January 2018 over the growing concerns over ICOs and Ponzi schemes in the wake of a bubble like characteristics in the cryptocurrency markets. However, since then the social media giant has changed its stance considerably as it is planning to release its own Facebook Coin. 

Author

Nivesh Rustgi

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CoinGape

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.



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