BREAKING NEWS: Facebook Reverses Ban On Crypto Ads But Not ICOs
This is surprising news. Facebook is allowing crypto ads once again. This came out of left field. According to the article you will have to submit an application to imply for the ad and it will have to be improved by facebook. That way they can determine if it is legit. But you still cannot promote icos on the network.
Like Facebook or not this is big news for several reasons. One it says crypto is legit. It says it is here to stay. It says Facebook is getting a lot of crypto ads and plans on getting more of them. It hints that facebook might get into the crypto space. And it will be a push for all the crypto companies that are advertising. But the fact that they are legit is the biggest factor. This is the future of the net and people are starting to open up to it.
What is next? Will other companies follow? There was a few places that banned them but this might start to change.
Here is the link for more info:
https://cointelegraph.com/news/facebook-reverses-ban-on-cryptocurrency-ads-maintains-ban-on-icos
Facebook made a step in the right direction, but too late
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In my opinion crypto will not be able to survive without regulation. As hard as it sounds. I had a talk with my father on the topic and he thought it was Illegal and only used for black markets! With more positive media exposure it will gain credibility. And with more regulations we will attract high level Wall Street investors.
I hate Facebook what about you @whatageek
Solid!
Excellent! Time to promote Steem on facebook! I sort of get why they wouldn't lift the ban on ICOs yet, its too hard to know when an ICO is a scam or not for the average crypto user so i would imagine that a facebook newcomer would get scammed left and right if all they saw where ICO ads and then they would probably complain that facebook and crypto scammed them, so i think its good as it is right now until we find a fix :-D
I completly agree with you - the ICO market is very scammy at the moment - and your right the average FB user wouldnt know if it was a scam or a goldmine - although people are more cautious with there money now than they were in late 2017.
Dont even know if advertising Steem on Facebook would be a great idea? We have enough problems with user retention as it is - rather see those be fixed first...
Its a good move not allowing advertising of ICOs on Facebook in my mind - there are so many scams in the land of ICOS, and allowing them to be advertised through FB just means more people will be scammed. Im not saying all ICOs are scams but there have been a fair few!
It means that if people want to invest in something they will have to do more of their own research rather than just have an ad infront of them which makes something sound to good to be true
The first thing that crossed my mind is that Facebook only did this to earn money.
After reading your post I think you might be right that the other reason could be that they want to launch their own crypto currency.
Ooh some good news since we got all those bans, actually it was specualted as it was the issue that affected prices a few months back then.
Could this influence a rise in any way? Am hoping so.