Facebook – a social media giant – has emerged as the first tech firm to lift the ban on digital currency ads, and the firm will now allow only pre-approved digital currency advertisers to advertise on its platform. Nevertheless, the firm has not lifted the ban on binary options and Initial Coin Offerings as they are still prohibited by the platform.
The Refined Policy
Rob Leathern – the Product Management Director of Facebook, said that the firm has refined the crypto ad policy and will now support ads that promote digital currencies and other related products from pre-approved digital currency businesses.
The ban on digital currencies by the firm back in January this year was as a result of the scams stemmed from ICOs and the lack of regulation in the ICO-sphere. Leathern added that the company has looked at the best possible way to refine the crypto ad policy – to allow some adverts while also working to make sure that they are safe.
The Speculations about the Acquisition of Coinbase
Ever since the social media giant lifted its ban on digital currency ban a few days ago, the cryptocurrency social media spheres seem to have been talking about a certain subject “Facebook is acquiring Coinbase” – the leading digital currency trading platform in the US.
Nevertheless, the issue with the rumor is that it is difficult to track down the kind of source that contributes even a skid of credibility to the claim. This whole rumor escalated from the article of an economist that is talking about a different subject matter – how top tech firms in America are identifying and buying promising startups to avoid future competition. It was in the course of his article that the “rumors that Facebook wants to acquire Coinbase emanated.
Coinbase stated that it’s aimed at reaching over one billion people that want to use digital currencies, and it has no better way of doing this than to partner with Facebook. This does not mean the rumors out there are true, that Facebook reversed its ban because it wants to acquire Coinbase.