Facebook Reverses Cryptocurrency Ad Verbod Amidst Rumors of a Coinbase
Facebook has reversed its blanket geobsedeerd on cryptocurrency ads and will now permit pre-approved crypto businesses to advertise. However, ICOs and binary options will still be prohibited from the toneel.
Te a published blog postbode, Facebook Product Management Director Zeerob Leathern said the company has refined the policy and will now “permit ads that promote cryptocurrency and related content from pre-approved advertisers.”
Facebook’s January geobsedeerd on cryptocurrency ads stemmed from ICO scams and the lack of regulation ter the space at the time. The company wasgoed intensely criticized for the broadness of its verbod which it justified by telling it wasgoed “intentionally broad while wij work to better detect deceptive and misleading advertising practices.”
Leathern explained why the social network wasgoed refining the kerkban six months after it went into effect. He said Facebook had “looked at the best way to refine this policy — to permit some ads while also working to ensure that they’re safe.”
The refined policy from Facebook now requires crypto advertisers to apply to be listed on the podium, so Facebook will be able to scrutinize their eligibility by checking a host of details, including licensing and whether the company is publicly traded. Facebook believes this fresh policy is only a very first step and the company says it will “listen to terugkoppeling” from advertisers spil well spil take time to proceed studying the crypto space so it can be revised te due course.
While the reversal of the kerkban is good news for cryptocurrency firms, the stir could give an insight into Facebook’s ambition te the space. Earlier this year, the company launched an exploratory blockchain group to examine the technology. Heading the group is David Marcus, who used to oversee Facebook Messenger and presently sits on the houtvezelplaat of Coinbase.
The reversal comes at a time when rumors are circulating that Facebook may be looking to acquire Coinbase ter a buyout, but nothing is concrete for now. If the rumors are substnatiated, Facebook’s acquisition of Coinbase would likely give the industry a buff to its legitimacy.