Cryptocurrency and Blockchain News
Facebook reversed decision on cryptocurrency ban for Coinbase
Social media giant, Facebook reversed its decision on cryptocurrency ban and whitelisted Coinbase cryptocurrency exchange allowing the company to post cryptocurrency related ads on the Facebook platform. Coinbase CEO, Brian Armstrong confirmed the good news on his Twitter account and mentioned that he is proud of the decision.
Facebook, an American online social networking service company based in California, enacted ban on cryptocurrency ads in Jan this year, reasoning that many organizations that placed those ads “were not operating in good faith”. Hence, the decision to reverse the ban is great news for the cryptocurrency communities and investors since it is another step towards mass acceptance. Coinbase is one of the largest cryptocurrency exchange in the world, perhaps the largest exchange that trades cryptocurrencies with fiat money.
This whitelisting policy from social networking giant, Facebook, is a sign to investors that confirms cryptocurrencies are here to stay and have a big part to play for our future. Facebook announced that full cryptocurrency ad ban is lifted today for approved advertisers, hence watch out for more news of cryptocurrency organizations being white-listed soon.
Cryptocurrency groups interested to place ads will just need to go through an application process for facebook to review their backgrounds and determine if their ads will be accepted. This process is good for the cryptocurrency communities since it will reduce the chance of scamming parties being included in the social networking world. Slowly but surely, public confidence with cryptocurrency will grow further together with more investments and mass adoptions. The future is bright.