Facebook allows advertising for cryptocurrencies again
Facebook has relaxed its general ban on cryptocurrency advertising. Effective immediately, it is once again possible to advertise products such as Bitcoin or Ethereum on the social network.
However, the company will first check whether the advertised offers relating to cryptocurrencies are safe and legal, according to a post on the company blog published on Tuesday evening. Facebook had banned ads for cryptocurrencies in January, as they had often been linked to misleading or fraudulent practices (Werbewoche.ch reported).
Advertising for the highly controversial so-called Initial Coin Offerings (ICOs), an unregulated way of creating money that has repeatedly led to major cases of fraud in recent months, is still not possible. Binary options, a financial derivative that also leaves plenty of scope for fraud, are also still not allowed to be advertised on Facebook.
The market for so-called cryptocurrencies was on fire at the end of last year. The price of Bitcoin, the best-known speculative asset of this type, surpassed the one-thousand-dollar mark one after the other in the space of just a few weeks - until it finally exceeded 20,000 dollars at times in December. At just over 6,000 dollars, it is currently a long way from this level. One of the reasons for the crash was that some established and traditional exchange operators had introduced products on Bitcoin that also made it possible to earn money with falling prices. As a result, Bitcoin became easier to trade and has gained a foothold on the financial markets. Initially, this fueled the rally. However, things have been going downhill since mid-December. (SDA)
