On January 30, 2018, Facebook announced that it was banning all advertising for cryptocurrencies on its platform. The decision, which comes on the heels of a $500M major exchange heist and promises of regulation from international governments, has — in part — caused the price of Bitcoin to dip even lower to hover around the $10,000 mark for the past 24 hours.
The use of the word “ban” by many media outlets covering the story has only caused more panic & confusion for investors.
Facebook could have handled the situation better by evaluating ads from cryptocurrency firms on a case-by-case basis and refusing to advertise content that they perceive to be illegal, unethical, or otherwise potentially harmful to their users. They have this right as a private company, remember.
Oh well… if only Facebook took this same strict approach to help eradicate cyberbullying, prevent live stream murder, and of course, stop the proliferation of fake news on the Facebook platform during the 2016 election season.
What are your thoughts?
Feel free to listen, share & respectfully disagree.