As we have reported way back in January, the management of Facebook made a decision to prohibit any ads related to digital currencies or token sales on the social network. This drastic step was followed by such giants as Google, Twitter, etc.
According to the Facebook ban policy, “financial products frequently associated with misleading or deceptive promotional practices” cannot be advertised. Apparently, cryptocurrencies fell under this category. So what made Facebook change its mind?
Firstly, there were rumours that Facebook was planning to launch its own blockchain and cryptocurrency. Thus, many people believed that Zuckerberg banned all the ads of his future potential competitors. That caused a lot of negative comments aimed against the social network and its creator in particular.
Secondly, many cryptocurrency experts believe this restriction was not very well thought-out, and it actually supressed multiple companies and businesses. They think that Facebook became overprotective, and the danger of scams is not that big. A couple of enterprises even tried to sue the social network because of the ban.
Anyway, whatever really caused it, Facebook did lift its ban partially. Now the cryptocurrency-related ads will be accepted, however, only from trustworthy sources. The promotion materials of token sales, binary options and digital currency exchanges will remain blocked.
If you want to read more about all the networks that banned cryptocurrency advertisements and why it happened, you can read our article on this topic.
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