Connect with us

Blogs

Facebook Redefines Their Cryptocurrency Ad Ban

Published

on

Facebook

Back in January, Facebook announced their freshly crafted ban on all ads on the Facebook social network related to cryptocurrencies and ICOs.

January was marked as one of the best periods for cryptos, and certainly the best period for digital assets in the following year, given the fact that the majority of cryptocurrencies climbed to record prices.

The Facebook ban didn’t come as benevolent, especially since it followed Google announcing the ban on ICO ads as well, that way limiting the visibility of cryptos with cutting down on well-known marketing strategy tools – advertising on social media.

However, the blow caused by the Facebook ban didn’t stop blockchain technology and ICOs from further expanding while entering a very important stage in the objective of having digital assets and blockchain technology massively adopted. This led Facebook to redefine the terms of their ban.

Whichever the case, Facebook did announce the update on the cryptocurrency ad ban on Facebook.

Facebook Announces a Benevolent Update on the Crypto Ad Ban

Back in January Facebook announced that they will be banning all cryptocurrency related ads on Facebook starting from June of the following year.

The June has come, also bringing changes to the policy Facebook announced more than several months ago, revolving the ad ban for all cryptos.

Facebook announced back in January that they believe that the ban of all crypto related adds, including Bitcoin, represent an active and efficient tool for detecting scammers and preventing scams that include new scam coins, suspicious ICOs, and similar.

The Facebook company stated that they are preventing people from falling to misleading advertisements that are related to these financial products and which often offer “misleading promotional material”, which is the only reason why Facebook would ban any crypto-related ads, as stated by the company’s representatives.

Although Facebook representatives stated that the concern for the safety of their users is their only motive for banning crypto ads, the crypto community rebelled in the terms of believing that legal ICOs, at least those favored by the Securities and Exchange Commission (SEC) should be allowed to advertise on Facebook.

The impact of this ban went further from the Facebook platform because the initial ban also included crypto related ad ban on the company’s branches, such as Instagram where crypto assets were doomed to a massive NO as well.

However, the tables turned, and Facebook just announced the refinement of their crypto ad ban policy, stating that they have nothing against blockchain and, if anything they always tend to follow up with the latest technological trends, while also contributing to the overall development of technology.

That is how Facebook has announced that they will allow certain crypto-based business to advertise on the social network and the platform’s branches, however, there will be some requirements and rules that would need to be met in order for these advertisers to receive their right of promoting their crypto-based business.

The interested advertisers will have to apply for gaining the right for advertising on Facebook, where the approval will arrive after the management reviews the proposal.

Although the crypto exchange markets and certain crypto business would be able to apply in order to get an ad spot on Facebook, the company’s management stated that the ban still remains active for ICOs and binary options.

Although the management of this social media platform is still not showing signs of friendliness towards initial coin offerings, it is encouraging for the crypto community to witness the interest and support that Facebook has for blockchain technology, which is reflected in the fact that Facebook formed their own internal blockchain team several months ago with the idea to explore and test the possibilities of blockchain technology, that seems to be more and more exciting.

Although there have been some rumors stating that Mark Zuckerberg will be launching his own digital asset, it is more likely that Facebook will rather be working on extracting technical capabilities that blockchain technology is offering for another purpose rather than launching an ICO.

Whichever the case, many crypto-based businesses are most certainly delighted to hear that Facebook was ready for making a compromise when it comes to the earlier announced crypto ad ban, which Google, Snapchat, and Twitter also supported.

For the latest cryptocurrency news, join our Telegram!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pexels

Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

Published

on

Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

Continue Reading

Altcoins

Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

Published

on

Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

Continue Reading

Altcoins

BITTREX GLOBAL CONFIRMS FREE TRADING AND LISTING FOR TOP DEFI TOKEN

Published

on

Valduz, Liechtenstein, 17th November, 2020, // ChainWire //

International cryptocurrency exchange promotes free trading and no gas fees for leading DeFi tokens

17th November 2020 — Bittrex Global GmbH. announced today 8 new DeFi tokens will be listed this week including:

  • UMA (UMA)
  • Aave (AAVE)
  • Balancer (BAL)
  • REN (REN & renBTC)
  • Kyber Network (KNC)
  • Band Protocol (BAND)
  • YF Link – (YFL)

Bittrex Global’s users can trade all of their DeFi  tokens with no trading or gas fees until 2021. The decision to enable free trading on Bittrex Global for DeFi tokens  follows on from the 1,000% growth of the DeFi asset class over the course of 2020.

The decision to enable free transactions will see more investors enter the Blockchain Act’s digital asset regulatory system, supervised by the Financial Market Authority in Liechtenstein (FMA) under the Due Diligence Act which requires traders to comply with the KYC/AML/CFT standards.

“The last year has seen huge growth in DeFi as an asset class and a number of significant milestones completed,” said Bittrex Global’s CEO Tom Albright. “As the asset class matures and more institutional and professional investors look at the fundamentals, we are likely to see increased demand and higher trading volumes for DeFi in 2021.

We’re really excited about what we’re seeing in the space and want to see these DeFi projects grow and help them build stronger platforms through increased adoption. Offering free trading fees…

Continue Reading

Press Release