Facebook Starts Ban On Cryptocurrency and ICOs

facebook cryptocurrency ban

Earlier this January we saw Mark Zuckerberg talk about his pursuit of moving towards decentralization.

The exact excerpt from his Facebook post was(1):

“There are important counter-trends to this – like encryption and cryptocurrency – that take power from centralized systems and put it back into people’s hands. But they come with the risk of being harder to control. I’m interested to go deeper and study the positive and negative aspects of these technologies, and how best to use them in our services,”

Although, in today’s news it seems that Facebook is taking a bit of a different approach.

Facebook Cryptocurrency Ad Ban

After Zuckerberg posted about decentralization in early January, people were shouting from the hills that Facebook would soon be accepting cryptocurrency.

And while it doesn’t seem so, it may be their ultimate plan to accept cryptocurrency, cutting down on its advertising as “insider trading.”

But, for now, what we are seeing is this comment from Rob Leathern stating(2):

“We want people to continue to discover and learn about new products and services through Facebook ads without fear of scams or deception. That said, there are many companies who are advertising binary options, ICOs and cryptocurrencies that are not currently operating in good faith.”

We know this seems bleak, especially after what Zuckerberg said, but this is probably for the best.

Without being able to advertise cryptocurrency on the most significant network in the world, it will help decentralize the message of coins by making them not need as much money as they previously thought they did.

Crap ICOs won’t float to the top based on money but instead will be sheathed with the rest of them.

So in the short term, while this can seem like a blow to the cryptocurrency community, it is probably one of the best things for the long run.

Helping to not only weed out those bad ICOs but also assisting people to look for diversified traffic for funding.

If you haven’t taken the quiz to find out which coin is right for you, click the link below:

Thanks for reading,

The GCA Team

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