According to a news report at 12 o'clock noon on the 26th, EDT, "Facebook is releasing the ban on digital cryptocurrency advertising developed by the company in January this year. Advertisers are required to be reviewed before placing advertisements, and related to the issuance of first-time tokens ( ICO) related ads are still prohibited."
Allowing cryptocurrencies to advertise on Facebook is, on the surface, a relatively loose policy for cryptocurrencies, a friendly behavior, and a sense of cryptocurrency support. But is it really the case?
At the beginning of Facebook’s initial development of digital cryptocurrency advertising bans, cryptocurrencies were in a madly rising trend. For example, Bitcoin’s price had already exceeded 20,000 US dollars at the time, but due to lack of supervision, fraudulent acts often occurred. So Facebook made a ban on cryptocurrencies. Google also implemented a ban afterwards.
But in my opinion this is not the main reason, because in addition to the cryptocurrency, facebook and Google also promote gambling sites in other aspects. In terms of fraud, both cryptocurrency and the gambling industry exist. So why only restrict the cryptocurrency?
We return to the original question. Is Facebook's partial lifting of the ban on confidential currencies its support and goodwill? I think on the contrary, when there was news speculating that Facebook and Google would issue their own cryptocurrencies, combined with the growth trend of the price of Bitcoin at that time, I had every reason to believe this speculation. Since Facebook and Google plan to issue their own cryptocurrency, how could they also advertise on other platforms for other cryptocurrencies?
Recently, the cryptocurrency market can be said to be very bad. In bitcoin terms, once worth more than 20,000 US dollars, it fell to below US$5,000 directly last week. Other cryptocurrencies have also been affected by this trend, and almost all have appeared. Different degrees of decline.
For this phenomenon, perhaps Facebook has lost confidence in the cryptocurrency market. Once the cryptocurrency is not issued, there is no such thing as a competitor. This explains why Facebook is going to lift the ban on cryptocurrency advertising.
(Above, it is a purely personal opinion and only serves as a reference for the analysis of this phenomenon.)