Social media giant 'Facebook'after restoring its security issues is now back pedaling its controversial move of banning 'cryptocurrency advertisements'.
So very shortly it will officially announce its pre -approved advertisers to promote crypto business and services such as exchanges (Litecoin).
Lately, Facebook banned all its crypto ads from the backend since January to prevent population from promoting “financial products and services frequently associated with misleading or deceptive promotional practices.”
As a way forward, pre-approved advertisers who are recognized by Facebook via an application process can promote crypto products and services. Though ads promoting binary options and initial coin offerings (ICOs ) haven't been strike downed by the policy makers.
The desired advertisers must come up with their licenses which are obtained through a public stock or any other relevant public background on their business” which are recognized and approved by the facebook in order to run the crypto ads.
The booming price of cryptocurrency graph has come down considerably since late 2017 when the price of bitcoin was close to 20,000(this morning it's just above $6000 per coin)
Sudden exposure about the trending block chain technology from magazines to social media made way for a mad rush among the consumers who wanted to be the part of the trend and few shady business encashed by promoting scams so the giants such as Facebook, Google, twitter placed the ban on crypto ads
Booming cryptocurrency has not lost its charm and still as trusted followers around the globe so Facebook is reopening its doors for crypto advertisers.
Collective analysis has showed positive graph in dollars and excitement in consumers has also not faded down so it as paved way for facebook to reconsider its policy over the crypto ads which is a bonus revenue generated for wealthy pockets.