At the end of June 2018, the top social networking site Facebook has officially reversed the advertising ban for cryptocurrencies, ICOs and binary options.



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Back in January 2018, Facebook – The father of social media, had formally announced the ban for cryptocurrency advertisements. The aim of this action, stated by Facebook’s spokesman, is to protect its 3 billion users from scam or deception related to cryptocurrencies like Bitcoin and Altcoin. “This policy is part of an ongoing effort to improve the integrity and security of our ads”, said by Rob Leathern, Product Management Director of Facebook. After the ban of this Top social media, other giants in the field like Google and Microsoft also followed with their own crypto ads ban.

As more and more people questioned their motives, in June 2018, Facebook revealed the adjustments for the ban, therefore, loosen it up and allow pre-approved advertisers to promote crypto businesses and services. Rob Leathern stated in a post on Facebook that advertisers would have to submit an ad application and receive an approval before advertising associated to crypto. However, ads related to binary option and ICO are still banned.

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The crypto market has been on a downward trend since the bitcoin price peaked at $20,000 by the end of 2017. It is expected that Facebook's actions will likely to help the market break free from the negative trend.