Facebook users will no longer be bombarded by cryptocurrency, the initial offer of coins and Bitcoin commercials on the social media platform.
prohibition of cryptocurrency, ICO or Bitcoin advertising – citing "financial products and services frequently associated with misleading or deceptive promotional practices".
Unfortunately, legitimate financial service providers will also be painted with the same brush. excludes all advertising of cryptocurrencies or related products on Facebook.
Non-compliant ads will be banned on Facebook, and on its Instagram partner platform as well as on its Audience Network advertising platform.
Technical Director Rob Leathern stated that the ban was intentionally broad in order to eliminate misleading and misleading advertising. 9003]
Social Media Responds
As usual, a look at the timelines of social media provides an interesting reading with differing opinions on the latest developments in the world. cryptocurrency space.
The Twitter user, Armin van Bitcoin, did some subtle research on Facebook founder Mark Zuckerberg, who recently made positive comments about Blockchain technology:
Three a few weeks ago: "I want to know more about decentralization and how to restore power to people."
Today: " Facebook banned ads promoting #bitcoin. # # Hypocrite #greed https: // t.co/mGRi5kJbRx
– Armin van Bitcoin ⚡ (@ArminVanBitcoin) January 30, 2018
Another user just used the hashtag #decentralized as he asked why Facebook did the move:
# decentralized ? I wonder w hy Facebook banned ?? #crypto #cryptocurrencies #bitcoin #tether #ocn # ocoin #TRONCOIN #tron #trx $ trx https://t.co/gfzBqA4Mjc[1 9459004] – Lawrence Digital (@DigitalLawrence) January 30, 2018
Another user pointed out that many Facebook users have been fooled by ICO scams advertised on Facebook:
] Facebook has banned all currency additions crypto, ico, binary trading etc. people were scammed by fake ICO adds on fb. TON and jio are prime examples. #cryptocurrencies #cryptocurrencynews #bitcoin #btc #facebooknews #ICO #binaryoptions
– Sunny Nehra (@sunnynehrabro) January 31, 2018
Meanwhile, Brian Haggerty said that Facebook's move does not make any sense. has nothing to do with Bitcoin – while the news has inevitably led to more fear, uncertainty and doubt.
So, more than #FUD. Everyone panics, as usual. What headlines of today have to do with #Bitcoin? Nothing. #BITFINEX #Tether and #Facebook ban #Crypto adds ZERO to do with Bitcoin. That's why education is vital in this new scene
– Brian Haggerty (@BHSpeaks) January 30, 2018
Omar Bham speculated that the move could increase Google's tastes more advertising revenue with Facebook refusing to accept cryptocurrency advertising.
The good, the bad and the ugly. I wonder if Google will follow suit, or just enjoy the higher advertising revenue … this definitely has an impact on everyone in the industry. #cryptocurrency #facebook #google #bitcoin https://t.co/YDYMsPg5CG
– Omar Bham (Crypt0) (@ crypt0snews) January 30, 2018
One user said that the move still had another opportunity for people to buy Bitcoin as the market price reacted to the announcement.
Facebook banned ads related to cryptocurrency. Samsung starts producing ASICS. Bitcoin breaks down $ 10k. And the mainstream media continue to deliver the good old "Bitcoin Plant" news bs. And I am here buying $ BTC at #HODL #Bitcoin #cryptocurrency #fakenews #HODLgang
– Jay (@tropenwitz) January 30, 2018
The first Tweet is probably the most telling because it highlights In early January, Zuckerberg said that he was "interested in going further and studying the positive and negative aspects of these technologies, and the best way to use them in our services. ". "
The scams advertised on Facebook may have attracted credulous investors and it is right to stop such practices, but a total ban could also punish legitimate businesses that make progress in the field Development of different applications Blockchain