Facebook is taking a step that is taking the Social Media scene by storm. They are banning all ads related to cryptocurrencies like ICO’s and Bitcoin.
The policy, which also applies to “binary options,” which may or may not provide a payout to investors, is designed to protect Facebook’s more than 1 billion users from “ads that promote financial products and services that are frequently associated with misleading or deceptive promotional practices,” according to a blog post from Rob Leathern, a Facebook product management director.
I have often said that this alt-currency is to volatile and unpredictable for it to be legitiamate in its current form.
A number of large, first world, economic power house nations are looking to or already have moved against these kinds of money alternatives.
The fact that nations like China, Japan, South Korea, India, Saudi Arabia, Britain, France and the USA are looking at banning or heavily regulating them would take away the very thing that makes these currencies so popular. Anonymity and lack of fiat government control and printing.
Now the fact that a major Social Media advertising platform like Facebook will ban the ability to market to potentially billions could be another nail in the coffin of these kinds of currencies.
I have said, digital currency is the future but not in its current form. The form that eventually replaces our current system will be run by governments and will be highly regulated and controlled. There really isn’t any way around it.