Cryptocurrency Isn’t The Future –  It’s Reality

Cryptocurrency Isn’t The Future –  It’s Reality

Have Social Media Sites Banned Cryptocurrency Content Ads?

Have Facebook, Youtube, and Twitter’s ongoing collective prohibition on crypto advertisements directly attack the whole crypto and blockchain community.

Have social media sites banned cryptocurrency ads
Image use under license via @mohamedehab via Twenty20 by Evanto

Without access to internet distribution platforms such as Facebook, Youtube, and Twitter, no product, service, political party, or philosophy can grow, much alone survive.

Facebook, Google, and Twitter have more influence than any government, and they have more information about us than any intelligence agency.

Even though the cryptocurrency business has developed in recent years, laws and limitations for bitcoin marketing continue to make cryptocurrency advertising difficult on social media websites.

Most social media advertising networks enabled crypto projects to be advertised up to 2018. However, such advertising was outlawed by Google, Facebook, and Twitter in March 2018. After that, no one could promote crypto-related ventures or offer to acquire tokens in an ICO, even law firms. Because many crypto goods were fake, Facebook classified them as deceptive.

In September 2018, Facebook and Google partly removed the prohibition, enabling pre-approved marketers to advertise cryptocurrencies and associated initiatives in the United States and Japan. Google relaxed its crypto advertising limitations once again in 2021.

Yes, Google’s reforms, which take effect on August 3, will ease limitations, allowing bitcoin wallets and exchanges to be advertised.

Google’s new crypto ad policy in the United States goes into effect on August 4 (at the time of writing this article), enabling advertising linked to bitcoin and other cryptocurrencies to appear on its network, but with limits on the companies that can do so.

  • Companies that market crypto goods and services to US clients on Google must be registered with the US Treasury’s Financial Crimes Enforcement Network (FinCEN) or a federal or state-authorized banking authority as of today.
  • As part of Google’s revised financial goods and services policy, this development was revealed in June.
  • Certain sorts of advertising and ad destinations that collect or compare crypto service providers are still prohibited by Google.
  • Advertising for initial coin offerings (ICOs) and Defi trading methods is likewise prohibited.

Nonetheless, we are aware that crypto advertising rules vary per country. Is the world now accepting cryptocurrencies, or are there still significant obstacles to overcome?

TikTok recently prohibited cryptocurrency advertising on its platform.

TikTok recently prohibited cryptocurrency advertising
Photo by @solenfeyissa from Unsplash

TikTok, a Chinese-owned video-sharing app, has barred its users from using the platform to promote digital currencies, according to Bitcoin.

According to the statement, lending and asset management, loans and credit cards, trading platforms, cryptocurrencies, foreign exchange, pyramid schemes, and investment services are all prohibited.

According to the report, advertisements promoting virtual currencies (such as Bitcoin and Ethereum) have been prohibited in nations like the United States, the United Kingdom, and South Korea.

The use of digital money for trade has sparked debate.

In 2021, the value of Bitcoin fell as the Chinese government tightened its grip on cryptocurrencies, causing digital currencies to lose value as well. The People’s Bank of China has advised financial institutions not to accept cryptocurrency as a payment form or provide services or products linked to it.

Conclusions

The influence of blockchain and cryptocurrency on our society will be enormous. Companies, and perhaps whole sectors, will go out of business. There will be a redistribution of wealth and power. Today’s winner will be the losers of tomorrow. This isn’t going to happen overnight. Today’s kings of the hill, the establishment, and corporate monopolies are not about to give up their thrones easily.

They recognize that a small tech startup with a small staff and a modest amount of cash may shift the power balance and alter the world.

Facebook, Twitter, and Youtube, on the other hand, now have the upper hand. The crypto- and blockchain communities rely entirely on their technologies and communication channels to function.

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