Facebook has reversed its controversial ban on cryptocurrency adverts, prompting further speculation that the tech giant may be planning something major in the space.
The lifting of the ban – put in place in January amid fears that ads were used for fraud – was welcomed by industry figures, with some saying that it indicated the firm’s recognition of the potential of bitcoin and other cryptocurrencies.
“Customer safety and education about the market should remain a priority, but a blanket ban is a poor approach to new ideas,” Iqbal Gandham, the UK managing director of the eToro investment platform told The Independent. “Technology giants like Facebook are aware of the potential of blockchain technology to fundamentally change the financial system.”
But perhaps more significant than the immediate implications for cryptocurrency firms is what the move signals about Facebook’s own ambitions…
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