Facebook puts an end to the ban on crypto ads: What are the benefits?
In 2018 Facebook blocked any advertising relating to cryptocurrencies: news, sponsorships or other. This decision accentuated an already difficult bearish market, prompting the concern of some crypto enthusiasts. The stringent pressure of the authorities and the absence of regulations in this regard, at that time forced the most used social media in the world to adopt this drastic measure. Then Facebook amazed with the launch of its crypto project Diem which, however, is really finding many obstacles and to date it is not yet clear when it will actually see the light.
Over the years, a lot has changed in relations with cryptocurrencies and the regulatory attention paid to it has also grown, being today considered as an investment opportunity and not as an enemy of world finance. Well Facebook (or META as per the new company name) has re-established crypto ads on its platform.
This does not mean that anyone will be able to advertise their crypto project on the platform but Facebook has updated its eligibility criteria for running cryptocurrency ads, adding a total of 24 other regulatory licenses to its list of accepted licenses. It will therefore be easier to sponsor cryptocurrencies as long as you have the license.
For example in the United States, where regulations are tight, crypto platforms that tend to run ads on Facebook should have a Money Services Business (MSB) registration license from the Financial Crimes Enforcement Network (FinCEN) or a BitLicense from New York State. Department of Financial Services (NYSDFS).
The restoration of ads on the social platform by more than 2 billion users is certainly a positive and bullish element as the more information will be provided to users, the faster and easier there will be mass adoption by all skeptics and those who have not yet. they know the meaning of cryptocurrency, which obviously isn't just Bitcoin.
It is clear that things have clearly improved compared to 2018: today nobody talks about the financial bubble anymore and this is thanks to the long information work carried out by the many high-ranking supporters in the world of finance. In a sector, the financial one, increasingly in crisis, cumbersome, often unclear, cryptocurrencies are here to simplify processes and provide transparency that could put an end to the many hidden games by powerful entities.
From my point of view, it doesn't matter that Bitcoin reaches 100k by December of this year. What really matters is that people can truly understand the potential of cryptocurrencies and how enormously they can benefit the world community.
Posted Using LeoFinance Beta